U.S. OCC: Banks can act upon customer requests to trade crypto assets

The U.S. Office of the Comptroller of the Currency (OCC) has shifted its stance on banks providing cryptocurrency services. According to CoinDesk, the OCC released a statement stating that banks can buy and sell cryptocurrencies in their custody upon customer request. Additionally, banks can outsource custody and execution work to third parties. The OCC explained that if the safety and soundness requirements of the regulator are met, banks are being given more freedom regarding cryptocurrencies. In March, the OCC lifted a ban on banks providing cryptocurrency services and eased regulations that discriminated against certain cryptocurrency customers.