U.S. Banking Regulator Withdraws Crypto Guidance
**U.S. Banking Regulator Withdraws Crypto Guidance**
By Yueqi Yang
6 hours ago
Source: The Information
The Office of the Comptroller of the Currency announced Friday it has rescinded its crypto guidance issued during the Biden administration, the most significant crypto-friendly pivot by a federal banking regulator so far under the new Trump administration.
The OCC said it will no longer require national banks to receive signoff from the regulator before engaging in crypto activities. It also confirmed banks are allowed to provide crypto custody, engage in stablecoin activities, and participate on blockchains. The changes will "reduce the burden on banks to engage in crypto-related activities," acting comptroller of the currency Rodney E. Hood said.
The actions marked a win for crypto and banking lobbying groups, which have been calling for federal banking regulators to rescind their crypto policies. The Federal Deposit Insurance Corporation has also signaled it would overhaul its crypto guidance.