The regulatory agency of Bank of America issued a cryptocurrency custody framework

AASTOCKS
2025.07.14 20:34

The Federal Reserve, the Office of the Comptroller of the Currency (OCC), and the Federal Deposit Insurance Corporation (FDIC) jointly issued a statement on Monday regarding the custody of crypto assets, providing a regulatory framework for banks holding digital assets.

According to the document, banks can hold cryptocurrencies in a custodial or non-custodial capacity and must establish robust internal controls to manage risks, particularly those related to the security of cryptographic keys.

The agencies emphasized that banks should ensure their employees possess sufficient technical expertise and implement safeguards to prevent the loss or unauthorized transfer of digital assets. Legal compliance, cybersecurity, and auditing programs were highlighted as necessary

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