The post Crypto News: U.S. Banks Can Now Provide Crypto Custody & Stablecoin Services Freely appeared on BitcoinEthereumNews.com.

The OCC has eased restrictions, allowing US national banks and federal savings associations to engage in cryptocurrency activities with fewer regulatory hurdles. President Trump’s administration further boosted crypto confidence by ending “Operation Chokepoint 2.0” and initiating a strategic reserve for Bitcoin and major digital currencies. Banks in the United States got a clear signal to push further into cryptocurrency after the recent clarification from the U.S. regulatory body overseeing national banks. On Friday, the Office of the Comptroller of the Currency (OCC) made it easier for national banks and federal savings associations to handle cryptocurrency custody, process stablecoin transactions, and run blockchain nodes. The OCC reaffirmed that crypto-asset custody, holding deposits that serve as reserves backing stablecoins, & the use of distributed ledger technology & stablecoins to facilitate permissible payments activities are permissible in the federal banking system. https://t.co/ifOdvjzEYJ pic.twitter.com/t7AXenXix3 — OCC (@USOCC) March 7, 2025 Earlier, strict conditions made it tougher, especially when President Joe Biden was in office. Banks had to get direct approval, submit detailed risk plans, and keep regulators updated before making crypto moves. The OCC’s latest decision removes those barriers, allowing banks to enter the crypto space with fewer restrictions. “The OCC expects banks to have the same strong risk management controls in place to support novel bank activities as they do for traditional ones,” Acting Comptroller of the Currency Rodney E. Hood explained. Trump’s Crypto Boost—Strategic Reserves, “Chokepoint” Ends That update cancels earlier joint statements from U.S. regulators. Those past warnings did not ban crypto but called it highly risky and warned banks that their crypto dealings would be closely watched. That decision signals a clear softening of the federal stance on cryptocurrency. That same day, President Donald Trump took more action to lift confidence in crypto. At the White House Crypto Summit, he…

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Filed under: News - @ March 9, 2025 11:11 am