As reported by COINOTAG News on December 10, citing Bloomberg Law, the Office of the Comptroller of the Currency (OCC) has issued guidance permitting U.S. banks to provide cryptocurrency custody services, clarifying how traditional financial institutions can engage in digital asset transactions within a regulatory framework.

The OCC memo clarifies a custody model where banks function as a custodian and facilitator: they may execute asset transfers by purchasing from one trading partner and selling to another, while the bank itself does not hold cryptocurrency assets, ensuring separation between custody services and asset possession. This framework supports regulated, enterprise-grade digital asset settlement infrastructure for licensed lenders and financial entities.