OCC’s new guidance will “reduce the burden” on banks
The OCC confirmed in a document titled Interpretive Letter 1183 that OCC-supervised financial institutions no longer need “supervisory nonobjection” to engage with crypto-related activities.
“Today’s action will reduce the burden on banks to engage in crypto-related activities and ensure that these bank activities are treated consistently by the OCC,” Acting Comptroller of the Currency Rodney E. Hood said.