News & Analysis as of

Custody Office of the Comptroller of the Currency Cryptocurrency

Barnea Jaffa Lande & Co.

Crypto Custody Services and Regulation – A Review

Institutional investors, corporations, exchanges, individuals, and crypto miners all have strong demand for crypto custody services, as provided by special market participants. These services intend to safeguard customers’...more

WilmerHale

Recent OCC Actions Focus Attention on Financial Crime Controls for Cryptocurrency Custody Businesses

WilmerHale on

Two recent actions by the Office of the Comptroller of the Currency (OCC) - one enforcement action and one interpretive note - focus attention on the kinds of anti–money laundering (AML) controls needed for banks to custody...more

BCLP

Crypto Goes Mainstream: OCC Says Banks Can Provide Crypto Custody Services

BCLP on

On Wednesday, July 22, 2020, Acting Comptroller of the Currency Brian Brooks reaffirmed his interest in being seen as an agent of modernization in a letter clarifying the authority of national banks and federal savings...more

Nutter McClennen & Fish LLP

Fintech in Brief: OCC Authorizes National Banks and Federal Savings Associations to Offer Cryptocurrency Custody Services

On July 22, 2020, the Office of the Comptroller of the Currency (the “OCC”) issued Interpretive Letter No. 1170 (the “Letter”) authorizing national banks and federal savings associations to provide cryptocurrency custody...more

Goodwin

OCC Confirms National Banks And Federal Savings Associations May Provide Cryptocurrency Custody

Goodwin on

On July 22, 2020, the Office of the Comptroller of the Currency (OCC) issued an interpretive letter confirming that national banks and federal savings associations (banks) may provide cryptocurrency custody services to...more

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