OCC Interpretive Letter #1170 Authority of a National Bank to Provide Cryptocurrency Custody Services for Customers

July 28, 2020

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On July 22, the OCC published a letter stating that providing custody services for customers using cryptocurrencies was a “modern form of traditional bank activities”, allowing banks to "continue satisfying their customers’ needs for safeguarding their most valuable assets, which today for tens of millions of Americans includes cryptocurrency.”

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