Home » Law » Federal Reserve clears US banks to custody crypto resources including Bitcoin
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Jul. 14, 2025
Extinct banks enter the crypto custody rental, opening doors for regulated institutional obtain entry to.
Photograph: Mesut Dogan
Key Takeaways
- The Federal Reserve has approved US banks to give custody products and companies for Bitcoin and other crypto resources.
- The decision reduces regulatory friction and enables banks to compete with reward crypto custodians.
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The Federal Reserve has given US banks the inexperienced gentle to give custody products and companies for Bitcoin and other crypto resources.
The shift, outlined in a joint observation from the Federal Reserve, OCC, and FDIC, enables customary banks to preserve digital resources on behalf of clients. Beforehand, regulatory uncertainty barred banks from getting into the crypto custody rental, ceding ground to specialist firms.
With this alternate, banks can now lengthen their products and companies to embrace crypto safekeeping alongside customary choices. The transfer comes amid rising institutional search files from for crypto publicity, in particular stable custody solutions.
Banks offering custody must comply with reward risk-administration, cybersecurity, and fiduciary requirements. They are moreover area to criminal guidelines governing AML, KYC, and oversight of third-birthday party service suppliers.
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