What Is the Office of the Comptroller of the Currency (OCC)?
The Office of the Comptroller of the Currency (OCC) is a branch of the U.S. Treasury established in 1863.
Its primary responsibility is supervising and regulating national banks, federal savings associations, federal branches, and foreign bank agencies operating within the United States.
OCC’s Regulatory Authority
The OCC derives its authority from the Bank Secrecy Act (BSA) in the United States.
It periodically issues bulletins and advisories to ensure consistent compliance with the BSA’s anti-money laundering (AML) requirements.
These efforts aimed to provide clarity on crypto policy and enable U.S. banks to offer custodial services to their customers.