logo

U.S. OCC Authorizes Banks to Buy, Sell, Custody Bitcoin; Outsourcing Allowed, FDIC and Fed Align Without Prior Approval

By: defi news|2025/05/10 01:15:04
0
Share
copy
The U.S. Office of the Comptroller of the Currency (OCC) has issued new guidance allowing nationally regulated banks to buy, sell, and custody cryptocurrencies, including Bitcoin, on behalf of their customers. This guidance permits banks to outsource crypto custody and trade execution services to third-party providers. Acting Comptroller Rodney E. Hood confirmed that these activities are now authorized under OCC regulations, marking a formal acceptance of digital asset services within mainstream banking. Additionally, the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve have aligned with the OCC, removing previous barriers and allowing banks to engage with digital assets without requiring prior approval, provided they implement appropriate risk controls. This regulatory shift enables banks to offer custody services, serve crypto businesses, and utilize blockchain technology more freely, signaling increased integration of cryptocurrencies into the traditional financial system.This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

You may also like

The flow of stablecoins and the spillover effects in the foreign exchange market

Research has found that an exogenous increase in net inflows of stablecoins significantly widens the price deviation between stablecoins and traditional foreign exchange, leads to depreciation of the local currency, and worsens the financing conditions for synthetic dollars (i.e., increases the doll...

After two years, Hong Kong's first batch of stablecoin licenses finally issued: HSBC, Standard Chartered make the cut

The regulated entity is set to launch a stablecoin in the first half of this year.

The person who helped TAO rise by 90% has now single-handedly crashed the price again today

As long as people are around, the story continues. But once they're gone, you may not even find a worthy opponent to play against.

3-Minute Guide to Participating in the SpaceX IPO on Bitget

Bitget IPO Prime brings a rare opportunity for global users to participate in world-class unicorn IPOs, allowing ordinary users to equally access the potential economic benefits of top-tier IPOs.

Top 5 Cryptos to Buy in 2026 Q1: A ChatGPT Deep Dive Analysis

Explore the top 5 cryptos to buy in Q1 2026 including BTC, ETH, SOL, TAO, and ONDO. See price outlooks, key narratives, and institutional catalysts shaping the next market move.

How to Earn $15,000 with Idle USDT Before Altcoin Season 2026

Wondering if altcoin season is coming in 2026? Get the latest market update, and learn how to turn your idle stablecoins waiting for entry into extra rewards up to 15,000 USDT.

Popular coins

Latest Crypto News

11:42

Xiao Feng: Supporting the implementation of compliant stablecoins, Hong Kong's digital financial system enters a new stage

HashKey Group Chairman Xiao Feng previously stated in an exclusive interview with Hong Kong Wen Wei Po that the issuance of the first batch of stablecoin licenses in Hong Kong is an important step for the local digital asset market. He pointed out that this move marks a further acceleration of Hong ...
11:42

Data: The current whale position on the Hyperliquid platform is 3.899 billion USD, with a long-short position ratio of 1.06

According to Coinglass data, the current holdings of whales on the Hyperliquid platform amount to $3.899 billion, with long positions at $2.004 billion, accounting for 51.39% of the holdings, and short positions at $1.895 billion, accounting for 48.61%. The profit and loss for long positions is $29....
11:42

Cumberland associated wallet withdraws a value of 59.52 million USD in ETH

According to Lookonchain monitoring, in the past 12 hours, a wallet associated with Cumberland (0x091...336) withdrew 26,500 ETH from OKX, Binance, Bybit, and Coinbase, worth $59.52 million.
11:42

Data: In the past 24 hours, the total liquidation across the network was 187 million USD, with long positions liquidated at 63.2385 million USD and short positions liquidated at 124 million USD

According to Coinglass data, in the past 24 hours, the total liquidation across the network was $187 million, with long positions liquidated at $63.2385 million and short positions liquidated at $124 million. Among them, Bitcoin long positions were liquidated at $10.1822 million, Bitcoin short posit...
11:42

WLFI repaid 25 million USD1 loans at Dolomite, and the deposit interest rate has returned to 10.43%

WLFI has repaid 25 million USD1 loans on Dolomite, and the available liquidity of USD1 on Dolomite has now recovered to 35 million USD.The deposit interest rate for USD1 on Dolomite has returned to a normal 10.43% (previously it had surged to 34%), slightly higher than USDC's 9.07% and USDT's 7.74%....
Read more
Community
iconiconiconiconiconiconicon

Customer Support Bot：@WEEX_support_smart_Bot

VIP Services：support@weex.com