Catenaa, Tuesday, July 15, 2025 –The US federal banking regulators on Monday issued a joint statement clarifying how banks should approach holding cryptocurrencies on behalf of customers, as Washington accelerates oversight of digital asset services under President Donald Trump’s second term.
The Federal Reserve, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation said banks must assess and manage risks associated with crypto custody, but emphasized the new guidance does not establish fresh supervisory expectations.
Instead, the agencies urged financial institutions to treat crypto safekeeping with the same prudence required of any new product or service. They specifically cited cybersecurity risks, protection of private keys and the need for strong governance as central to safe operations.
“A banking organization contemplating providing safekeeping for crypto-assets should consider the evolving nature of the crypto-asset market,” the agencies wrote, noting that firms should adopt a governance framework tailored to emerging risks in the digital space.
The announcement follows a string of crypto-related regulatory clarifications from federal bodies since Trump’s return to the White House. In May, the OCC said U.S. banks are permitted to buy and sell crypto assets for their own accounts. The FDIC has also relaxed prior constraints, allowing financial institutions to engage in crypto activities without pre-notification.
The push is bolstered by appointments of crypto-forward officials to top posts, including the recent Senate confirmation of former blockchain executive Jonathan Gould to lead the OCC. Gould previously held senior legal positions at both Bitfury and the OCC.
