OCC Confirms US Banks Are Ready to Enter the Crypto Era, Paving the Way for Digital Financial Innovation
The Office of the Comptroller of the Currency (OCC) has officially confirmed the readiness of the federal banking system to integrate digital assets, including blockchain and stablecoins, into traditional financial services. The announcement, made on May 13, 2025, marks a strategic step in the digitalization of the US banking industry.
In a message sent via the X platform, the OCC said:
“The federal banking system is well-positioned to engage in digital asset activities.”
The agency also cited two key documents – Interpretive Letters 1183 (March 2025) and 1184 (May 2025) – as providing clear legal foundations for national banks and federal savings associations. Accordingly, financial institutions are allowed to:
Provide custody services for crypto assets
Engage in the holding of stablecoin reserves
Execute payment transactions through blockchain networks
Buy and sell digital assets at the direction of customers
Notably, Letter 1183 officially repeals the previous letter 1179, removing the requirement to obtain no-objection approval before engaging in activities related to digital assets – a move that is seen as reducing administrative barriers and creating a more flexible environment for innovation.
Acting Comptroller of the Currency Rodney E. Hood emphasized:
“The digitization of financial services is no longer a trend – it is a transformation. With more than 50 million Americans holding cryptocurrencies, the participation of banks is essential to ensuring safety and transparency for consumers.”
While the OCC maintains its “prudent oversight” requirement to ensure digital asset activities are conducted in a “safe, sound, and fair” manner, the issuance of specific guidance documents is providing clarity to the entire banking industry.
Observers consider this a major step forward in legitimizing and integrating blockchain technologies into the traditional financial system. Although there are still some concerns about systemic risks, many experts believe that a clear legal framework from the OCC will promote sustainable development, putting US banks at the forefront of the digital financial era.