Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
OCC Opens Doors for U.S. Banks to Engage in Crypto
Regulation | March 14, 2025
Image: Freepik/macrovector official
U.S. Banks Get Green Light for Crypto Activities
As highlighted by Mayer | Brown, on March 7 2025, the U.S. Office of the Comptroller of the Currency (OCC) issued guidance that removed the prior approval requirement for national banks and federal savings associations to engage in cryptocurrency activities. This streamlines the process to participate, reducing red tape while still maintaining risk management expectations.
Key Takeaways
- The OCC cancelled a 2021 rule that required banks to get approval before offering crypto services, making it simpler for them to enter the market
- Even though they don’t need permission anymore, banks must have strong protections in place to handle crypto-related risks just like with other financial services
See: U.S. Senate Moves to Regulate Stablecoins
- The OCC dropped past warnings about crypto risks and liquidity issues, signalling a more open approach to digital assets
- With clearer rules, more U.S. banks may start providing crypto services like custody, payments, and tokenized assets
Why It Matters
This decision could drive greater institutional adoption of crypto in the U.S. With American banks now able to participate in crypto offerings more freely, will Canada follow suit to remain competitive?
The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with fintech, alternative finance, blockchain, cryptocurrency, crowdfunding and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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