What US OCC National Bank Charter - 12 CFR Part 1 and Permissible Activities for National Banks requires
The Office of the Comptroller of the Currency (OCC) charters, regulates, and supervises national banks and federal savings associations under the National Bank Act (12 USC 1 et seq.) and Home Owners Loan Act. National banks must obtain OCC approval for new activities and expansions. The OCC has affirmed that national banks may provide custody services for cryptocurrency assets (Interpretive Letter 1170, 2020) and participate in blockchain networks. OCC licensing requirements include minimum capital, business plan approval, and ongoing examination programs.
Pillar: Crypto & Sovereign Finance · Authority: Office of the Comptroller of the Currency (OCC) · Version: 1.0.0 · Last updated:
Primary source: https://www.occ.gov/topics/licensing/index-licensing.html
SHA-256 integrity: 533e076f1cebb62dd79d294950a9549477c9e24b0931144ba57267f20899fb09
Primary Citations — 5 traced to source
- {"title":"National Bank Act - 12 USC 1 et seq.","url":"https://www.occ.gov/about/who-we-are/laws-regulations/index-laws.html","section":"Chartering authority for national banks"}
- {"title":"OCC Interpretive Letter 1170 - National Banks Providing Cryptocurrency Custody Services (2020)","url":"https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-98.html","section":"OCC permissibility opinion for national bank crypto custody"}
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