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OCC Bulletin 2021-56
November 23, 2021
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Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties
The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively, the agencies) today issued a joint statement summarizing the interagency “policy sprint” on crypto-assets1 and announcing several initiatives to provide greater clarity on permissibility, safety and soundness, consumer protection, and compliance with existing laws and regulations related to crypto-asset-related activities in which banks2 may engage.
The OCC is approaching crypto-related activities in the federal banking system very carefully with a high degree of caution and expects its supervised institutions to do the same. OCC-supervised institutions should reach out to the appropriate OCC supervisory office before engaging in any crypto-related activity.
The bulletin applies to community banks that engage in or are considering engaging in crypto-asset activities.
The joint statement
Please contact Beth Knickerbocker, Chief Innovation Officer, Office of Innovation, at (202) 649-5200.
Grovetta N. Gardineer
Senior Deputy Comptroller for Bank Supervision Policy
2 “Banks” refers collectively to national banks, federal savings associations, and federal branches and agencies of foreign banking organizations.