OCC Wants Banks to Seek Permission Before Offering Crypto Services

OCC Wants Banks to Seek Permission Before Offering Crypto Services
The U.S. Office of the Comptroller of the Currency (OCC) wants banks to be very sure they can provide crypto services before they do so.The federal bank regulator published an interpretative letter Tuesday telling banks to be very clear they can comply with existing regulations involving stablecoins and other cryptocurrency services if they want to begin offering custody or node verification services.The letter discussed three other interpretative letters issued last year under former Acting Comptroller Brian Brooks, which allowed banks to provide these services.“This letter clarifies that the activities addressed in those interpretive letters are legally permissible for a bank…