Federally Chartered Banks and Thrifts May Provide Custody Services For Crypto Assets | OCC

Updated 07/26/2021

This summary explain the key takeaways from the United States Office of the Comptroller of the Currency’s (OCC) public letter clarifying that national banks and federal savings associations have the legal right to take custody of cryptocurrency assets. Additionally, the document contains general background information on cryptocurrency to enhance your understanding of this asset type which more and more Americans buy and sell every year and highlights certain concepts to keep in mind as you develop and revise your custodial and safekeeping policies to address cryptocurrencies.

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