TechFlow, May 8 — According to Interpretive Letter 1184 issued by the Office of the Comptroller of the Currency (OCC), national banks and federal savings associations may buy and sell custodied assets at customers' direction and may outsource permitted cryptocurrency activities—including custody and execution services—to third parties, provided they adhere to appropriate third-party risk management standards.
The OCC previously addressed related authorities in Interpretive Letters 1170 and 1183. The OCC emphasized that banks engaging in cryptocurrency custody activities, including through sub-custodians, must ensure such activities are conducted in a safe and sound manner and comply with applicable laws and regulations.
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