In an interpretation letter released on the 8th (local time), the OCC stated that "national banks may conduct cryptocurrency transactions for their customers without recording the assets on their balance sheets."
This method involves simultaneously trading with one customer and offsetting it with another, and has the same structure as the "risk-free intermediation model" widely used in existing financial markets.
The letter states that "several applicants explained that risk-free cryptocurrency intermediation would be an additional service to their clients and would lead to increased business opportunities in a growing market."
The OCC also emphasized that this will allow customers to trade crypto assets with confidence through regulated banks rather than through unregulated platforms.
However, the OCC warned that if banks engage in cryptocurrency-related activities, they must ensure that they are within the scope of legal permissible activity and that such activities are within the authority granted to the bank.
It also requires the establishment of internal procedures to properly manage operational risks, compliance risks, market risks, etc.
The letter states that "the greatest risk in risk-free brokerage transactions is counterparty credit risk (especially
"This credit risk management is at the core of banking operations and banks already have extensive experience," he added.
Furthermore, the OCC explained that risk-free intermediation transactions by national banks are recognized as "banking activities." However,
The regulation already applies to brokerage transactions involving securities, and crypto assets that qualify as securities will be permitted within the existing legal framework, he added.
While the letter is not a binding regulation, it does clarify what cryptocurrency-related activities banks may engage in under current law.
It is an important document that shows the official position of the
2025/12/10 11:52 KST
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