US Banks Authorized to Buy and Sell Crypto for Customers

The Office of the Comptroller of the Currency (OCC) has officially permitted national banks and federal savings associations to buy and sell digital assets for their customers. This decision, outlined in Interpretive Letter 1184, allows banks to provide execution services for digital asset transactions at the direction of their clients.

Importantly, banks are not required to develop their own infrastructure for these services. The OCC has stated that they can outsource custody and execution activities to third-party providers, provided that suitable risk management frameworks are in place. The guidance does not specify particular tokens or digital assets, offering banks considerable flexibility in their service offerings.

Previously, banks had to navigate a non-objection process to handle digital assets, but the OCC rescinded this requirement in March 2025. This change reflects a growing acceptance of cryptocurrency within the banking sector, following earlier guidance that allowed banks to offer custody services for cryptocurrencies.