US banks may intermediate riskless principal Bitcoin, crypto trades on December 10, 2025

On December 10, 2025, a U.S. banking regulator outlined that lenders can facilitate customer crypto transactions without carrying the assets on their balance sheets, according to an interpretive letter from the Office of the Comptroller of the Currency (OCC). The letter permits national banks to act as riskless principal intermediaries for non‑security crypto assets such as Bitcoin. Institutions must manage settlement risk and comply with applicable laws.