The Office of the Comptroller of the Currency (OCC) has stated that banks have the authority to engage in certain cryptocurrency activities

BlockBeats News, March 8th, the Office of the Comptroller of the Currency (OCC) of the United States issued a new interpretive letter, clarifying that federally chartered banks can engage in cryptocurrency custody, stablecoin-related activities, and blockchain node operation without prior approval. The OCC also rescinded its 2023 statement on bank cryptocurrency liquidity risk.

OCC Acting Comptroller Rodney E. Hood stated: "The OCC expects banks to have strong risk management controls in place when supporting new bank activities, similar to traditional banking activities. Today's actions will reduce the burden for banks to engage in cryptocurrency-related activities and ensure that these activities are treated consistently under OCC supervision, regardless of the underlying technology. I will continue to work to ensure that regulation is both effective and not overly burdensome, while maintaining a sound federal banking system."