July 23, 2020 U.S. banks can now offer cryptoasset custody services.

Following a decision from The Office of the Comptroller of the Currency (OCC), nationally chartered U.S. banks can now hold cryptographic keys that control cryptoassets; theoretically allowing said banks to offer cryptoasset custody services to their customers. In the letter, documenting the decision, the bureau also reiterated that banks can offer banking services to cryptoasset-related businesses assuming they comply with the relevant legislation and carry out sufficient risk management.

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