Unknown Sponsor Bank

On March 7, 2025, the OCC issued guidance reaffirming that nationally chartered banks and federal savings associations may engage in certain crypto-asset activities without first obtaining a nonobjection letter from the OCC. This reversed the more cautious posture adopted during 2022–2023 when the OCC, along with the FDIC and Federal Reserve, had issued joint statements cautioning banks about crypto risks. The OCC's move was part of a coordinated effort among the three federal banking agencies to withdraw restrictive crypto guidance and shift to routine supervisory oversight. For BaaS banks that serve as sponsor banks for fintech firms offering crypto products, this reduces a key regulatory hurdle. Banks remain responsible for maintaining sound risk management practices.

Verified from source: The page confirms that the OCC on March 7, 2025, reaffirmed that OCC-supervised banks may engage in crypto-related activities, following a similar approach to the FDIC's rescission of prior approval requirements. The page references this as part of a broader regulatory shift away from restrictive crypto guidance.