U.S. Regulator Allows Banks to Act as Crypto Intermediaries Under New OCC Rules

The Office of the Comptroller of the Currency (OCC), a key U.S. banking regulator, announced Tuesday that national banks are now permitted to act as intermediaries in cryptocurrency transactions further aligning traditional banking operations with the digital asset sector.

Under new regulatory guidance, banks may engage in so-called “riskless principal” transactions involving crypto assets, as reported by Reuters. In these arrangements, banks simultaneously purchase crypto from one party and sell it to another, effectively serving as brokers rather than traders. The OCC clarified that banks are not expected to hold crypto on their balance sheets during these transactions, except in rare and incidental circumstances.

This decision builds on earlier moves by the OCC. In May 2025, the OCC issued an interpretive letter allowing federally regulated banks to provide a broader suite of crypto-related services — including crypto custody, execution, stablecoin activities, and distributed-ledger participation — without needing prior supervisory approval.

The move marks another step by the Trump administration to integrate crypto activities into the conventional financial system by revising regulatory frameworks and reducing prior limitations imposed on banks’ digital asset involvement.

Critics warn, however, that lowering regulatory barriers may deepen the connections between the traditional banking sector and the highly volatile cryptocurrency market. According to observers, this growing interdependence could introduce new systemic risks should market turbulence spill over into regulated financial institutions.

The OCC’s latest guidance follows a broader rollback of policies introduced during President Joe Biden’s administration. Earlier restrictions had required banks to obtain advance regulatory approval before launching certain crypto-related services. Those requirements were rescinded in March when the OCC formally greenlit selected digital asset activities for banks without prior supervisory clearance.

Together, these measures signal a more permissive regulatory stance toward crypto banking activities in the United States, potentially accelerating institutional adoption while reigniting debate over financial safeguards and market stability.