NR 2025-121 OCC Confirms Bank Authority to Engage in Riskless Principal Crypto-Asset Transactions

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Research, not advice. Part of the Bitcoin research archive (October 2026). Claims labelled unverified, contested or fringe are reported, not endorsed; statuses of bills and rules are as of the date checked. Government, court and patent records are public domain; the research notes are CC BY 4.0.

OCC Confirms Bank Authority to Engage in Riskless Principal Crypto-Asset Transactions | OCC

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			News Release 2025-121
            |
            December 9, 2025

OCC Confirms Bank Authority to Engage in Riskless Principal Crypto-Asset Transactions

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WASHINGTON—The Office of the Comptroller of the Currency (OCC) today confirmed permissible bank activities related to riskless principal transactions in crypto-assets.

The OCC published Interpretive Letter 1188 confirming that a national bank may engage in riskless principal crypto-asset transactions as part of the business of banking.  Such transactions involve a bank acting as principal in a crypto-asset transaction with one customer while simultaneously entering into an offsetting transaction with another customer.  The bank serves as an intermediary and does not hold the crypto-assets in inventory, instead acting in a capacity equivalent to that of a broker acting as agent.

As with any activity, a national bank must conduct these activities in a safe and sound manner and in compliance with applicable law.

Related Link

Interpretive Letter 1188 (PDF)

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