U.S. Regulator Approves Banks to Offer Crypto Services Under New Guidelines

US Regulator Approves Banks to Offer Crypto Services

The Office of the Comptroller of the Currency (OCC) has officially confirmed that U.S. banks are allowed to provide certain cryptocurrency-related services. This marks a major step in integrating digital assets into traditional finance.

On April 22, Acting Comptroller Rodney Hood clarified the OCC’s position, saying banks can now engage in specific crypto activities as long as they follow existing banking regulations.

“Digital assets are now a key part of the financial world. Over 50 million people own cryptocurrency, and many businesses working with crypto need banking services,” said Hood.

What Services Can Banks Offer?

According to the OCC, banks can now legally:

Provide crypto custody services

Hold stablecoin reserves

Use blockchain and stablecoins for payment processing

However, the OCC emphasized that these services must follow strict risk management rules already in place for banks.

“This move reduces regulatory barriers, supports responsible innovation, and allows banks to use new technologies to better serve customers,” Hood added.

Banks and Crypto Firms Move Forward

The announcement comes as major banks like Deutsche Bank and Standard Chartered explore expanding their crypto operations in the U.S.

At the same time, top crypto companies — including Coinbase, Circle, Paxos, and BitGo — are now considering applying for U.S. banking licenses. This follows regulatory changes since Donald Trump’s election, which reshaped the crypto policy environment.

Until recently, many crypto firms in the U.S. struggled to get banking support due to regulatory concerns. The OCC’s update is expected to ease this issue and support further integration between the crypto industry and the banking sector.