News

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

ChainPlay

ChainPlay

•

26 days ago

Share :

https://tk-storage.s3.ap-southeast-1.amazonaws.com/host/ckeditor/imgwhoweareleadership480x205_20250423170536.jpg

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.

Share this article

#Other

Related articles

$100M VC Fund Fails to Stabilize Pi Coin Amid Investor Skepticism
$100M VC Fund Fails to Stabilize Pi Coin Amid Investor Skepticism

Pi Coin's price dropped 20% after Consensus 2025, sparking investor concerns. Analysts warn of a potential fall to $0.40 amid heavy sell-offs and community unrest.

ChainPlay

ChainPlay

•

yesterday

Buterin’s New Proposal Aims to Decentralize Ethereum with Local-First Syncing
Buterin’s New Proposal Aims to Decentralize Ethereum with Local-First Syncing

Vitalik Buterin proposes a "local-first" model to make Ethereum nodes easier to run on consumer hardware by changing how data is stored and synced. This shift could reduce centralization and boost network participation.

ChainPlay

ChainPlay

•

8 hours ago

$PIXEL Staking Hits 73M Tokens as Pixels Expands with New Games
$PIXEL Staking Hits 73M Tokens as Pixels Expands with New Games

Pixels updates $PIXEL staking with 73M+ tokens staked, new games, $vPIXEL launch, and a focus on sustainable, player-driven web3 gaming.

ChainPlay

ChainPlay

•

6 hours ago