American banks can deal with the assets of encryption of customers detained in reservation

The US Financial Currency Office (OCC) confirmed that the banks under their jurisdiction can trade encryption on behalf of customers and the use of external sources of some encryption activities to third parties.

Representation Rodney Hood observer He said In the May 7 message it states that banks and federal savings societies The encryption can be purchased and sold They protest in the direction of customers.

OCC Add In a press release that financial institutions can also use the bank’s external sources. Encryption activitiesIncluding custody and implementation services, to third parties in accordance with the applicable law.

“In addition, these banks may provide other custody services, including saving records, taxes or reporting services to their customers,” Hood He said In a video on May 7, it was posted on X.

OCC banks may buy and sell assets detained in reservation and allowed to use external sources of encryption activities for the bank, including custody and implementation services. https://t.co/0SCQDGNAS6 pic.twitter.com/j5dekx4wul

OCC (@usocc) May 7, 2025

“OCC’s sub -intermediate banks may be used to provide the same services subject to risk management practices from the appropriate third party, while a group of cryptocurrencies and digital assets activities may be implemented by banks and its third parties,” he added.

Previously, OCC reduce A position on how banks can deal with encryption On March 7 by giving the green light to the coding of encrypted assets, some stablecoin activities, and participating in the independent node verification networks such as the professor’s distributed books.

Hood said: “More than 50 million Americans carry a form of encrypted currency. This digitization for financial services is not a trend, it is a transformation,” Hood said.

OCC is an independent office within the US Treasury Organize It is supervised by all national banks as well as the federal branches of foreign banks.

Industry supports OCC messages

Catherine Kirkpatrick Boss, General Adviser at the Zk-Rollup Starkware developer, He said The letters indicate “a shift in the OCC approach”, which now seems to be preferred to focus on integrating encryption into banking frameworks.

“More guidance will give more clarity [and] Banks will be allowed to re -enter the encryption [without] She said that the fear of existential organizational risks.

She added that “the explicit, frank permission that allows banks to use external sources of the permitted coded bank is a blessing for the original services providers for encryption.”

Fariar Sherzad, chief policy in Crypto Exchange, clapped this step, Saying On May 7 to X, Hood is estimated to be “organizational clarity, as well as his commitment to best supervisory practices and law.”

Trump’s administration has He took a more friendly position towards encryption Since his arrival in power in January.

Related to: Lessons learned in the 2.0 Planette process of Congress

In April, the American Federal Reserve She announced that she is withdrawing guidance It was created to deter banks from engaging in encryption activities.

US President Donald Trump as well The Joint Congress decision signed on April 11Transfer the base of the administration’s administration’s era that required decentralized financing protocols to report transactions to the internal revenue service.

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