OCC guidance on third-party crypto service providers

Collection item

OCC clarified that banks can engage third-party providers to perform crypto custody and execution services, thereby enabling institutions to leverage external expertise while maintaining regulatory obligations

OCC requires that any third-party providers working with banks must implement and uphold robust security protocols to protect customer assets and ensure the integrity of the services offered

OCC maintains that banks cannot abdicate responsibility when outsourcing crypto services and must conduct thorough due diligence, enforce risk management frameworks, and monitor compliance standards across all third-party engagements

Data source type

Collection data source

Filter

{"where":{"AND":[{"attribute":"Jfmby78N4BCseZinBmdVov","is":"KeG9eTM8NUYFMAjnsvF4Dg"}]}}