OCC Clears Path for US Banks to Enter the Crypto Revolution

• The OCC now allows US banks to engage in crypto without prior approval.
• The Trump administration is pushing pro-crypto policies, reshaping financial regulations.

The U.S. Office of the Comptroller of the Currency (OCC) has recorded a strategic move in recent times in decision making. Banks can now engage in certain crypto activities—without waiting for a green light from regulators. This marks a significant policy shift, reversing earlier rules set under the Biden administration.

Rodney Hood, acting comptroller, made it clear: banks must still manage risks, but regulatory approval won’t be a barrier anymore. 

“Today’s action will reduce the burden on banks and ensure consistent treatment of crypto activities, regardless of the technology,” Hood said in the company’s official release.

Coinbase: ‘About Time’ Regulators Gave Banks Clarity

For years, crypto firms like Coinbase have pushed for clearer banking regulations. The exchange has been vocal about how regulatory uncertainty kept financial institutions from offering crypto services.

Coinbase sent letters to top regulators—the OCC, the Federal Reserve, and the FDIC—demanding clear confirmation that banks can provide crypto custody and trading services. Paul Grewal, Coinbase’s Chief Legal Officer, didn’t hold back. “Regulatory clarity is long overdue. Banks and crypto firms need a clear rulebook, not just shifting guidelines,” he said.

The push for change wasn’t without controversy. Lawmakers like James Comer accused the Biden administration of pressuring banks to cut ties with crypto companies.

However, the U S. SEC under the current leadership of Mark Uyeda has made progressive policies and decisions. The U.S SEC has dismissed litigations and cases against many crypto projects, like Kraken, and OpenSea. The agency recently dropped its lawsuit against Coinbase, in pursuance for clearer regulations.

Now, with the OCC stepping back and the Trump administration taking a pro-crypto stance, the road ahead looks different. But is it really clear?

What This Means for Banks and Crypto’s Future

While the OCC’s decision removes a major hurdle, it doesn’t erase all concerns. Banks still have to manage risks and navigate evolving regulations. The broader financial system remains cautious.

David Sacks, Trump’s newly appointed “AI & Crypto Czar,” has been vocal about making crypto integration easier. His influence has already led to the repeal of an SEC rule that classified crypto assets held by banks as liabilities. These changes hint at a larger shift toward mainstream crypto adoption.

Still, questions remain. Will major banks now jump into crypto? Or will lingering legal uncertainties hold them back? One thing is certain—this decision is just the beginning of a new chapter in crypto banking.

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