OCC allows banks to outsource crypto-related services, such as custody and execution, to qualified third-party providers, under the condition that strong oversight, continuous risk management, and regulatory compliance are consistently maintained

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The OCC stated that institutions may buy and sell assets held in custody at the customer’s direction and outsource crypto-asset functions, including custody and trade execution services, to third parties. These activities remain subject to the same oversight and operational standards applied to traditional financial services, including due diligence, third-party risk management, and cybersecurity protocols.

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Crypto news

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