by Arthur S. Long, Parag Patel, Pia Naib, and Deric Behar
Left to right: Arthur S. Long, Parag Patel, Pia Naib, and Deric Behar (photos courtesy of Latham & Watkins LLP)
In a break from restrictive Biden-era policies, OCC-supervised banks may now engage in crypto activities without supervisory nonobjection, potentially opening new avenues for innovation.
On March 7, 2025, the Office of the Comptroller of the Currency (OCC) reaffirmed that national banks and federal savings associations (collectively, banks) may participate in a range of cryptocurrency activities, including crypto custody, certain stablecoin activities, and participation in independent node verification networks.