United States Office of the Comptroller of the Currency: Banks May Conduct Transactions in Cryptocurrency on Behalf of Customers

BlockBeats News, May 8th, according to CoinDesk, the Office of the Comptroller of the Currency (OCC) in the United States continues to change its previous stance on the application of cryptocurrency in the banking industry, issuing an interpretive letter stating that banks can buy and sell the cryptocurrency they custody at the request of customers.

The OCC's latest policy statement released this Wednesday also explicitly states that banks can outsource cryptocurrency activities to third parties, including custody and execution services. As long as these activities meet regulatory security and soundness requirements, the OCC will grant banks more cryptocurrency freedom.