The Office of the Comptroller of the Currency in the United States confirms that banks have the right to engage in risk-free principal cryptocurrency transactions

The Office of the Comptroller of the Currency (OCC) issued Interpretive Letter 1188, confirming that national banks may engage in permissible banking activities related to risk-free principal cryptocurrency transactions.

Such transactions involve banks acting as principals in cryptocurrency transactions with one customer while engaging in offsetting transactions with another customer. The bank acts as an intermediary, not holding a cryptocurrency inventory, but instead functioning in a manner similar to that of a broker acting as an agent. As with any activity, national banks must conduct these activities in a safe and sound manner and comply with applicable laws.