The OCC confirms that national banks may intermediate cryptocurrency trades without holding digital assets on their balance sheets.

The U.S. Office of the Comptroller of the Currency (OCC) has determined that national banks may act as intermediaries in cryptocurrency buy-and-sell transactions as a “riskless principal,” meaning without holding digital assets on their balance sheets.

In an interpretive letter released on December 9, the supervisory authority clarified that banks may act as the principal counterparty in a crypto transaction with a customer while simultaneously executing an offsetting transaction with another party. Because the bank does not maintain inventory or assume prolonged market exposure, the activity is classified as low risk and consistent with brokerage practices already permitted in traditional finance.

The document highlights that several institutions have outlined the benefits of intermediating Bitcoin and crypto transactions for their clients, including the ability to offer additional services in a rapidly expanding sector.

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