Banks can now hold crypto for customers in the USA

The Office of the Comptroller of the Currency (OCC) released Interpretive Letter 1184 on May 7, 2025, confirming that national banks and federal savings associations are authorized to offer crypto-asset custody and execution services. This includes the ability to buy and sell assets held in custody at the customer’s direction and to outsource these activities to third parties, provided that appropriate third-party risk management practices are in place. This clarification builds upon previous guidance provided in Interpretive Letters 1170 and 1183, which addressed banks’ authority to engage in certain crypto-asset activities. The OCC emphasizes that all such activities must be conducted in a safe and sound manner and in compliance with applicable laws and regulations.