Banks in the USA are officially authorized to offer Bitcoin to clients

Source: PortaldoBitcoin Original Title: Banks in the USA are officially authorized to offer Bitcoin to customers Original Link: https://portaldobitcoin.uol.com.br/bancos-nos-eua-estao-oficialmente-autorizados-a-oferecer-bitcoin-para-clientes/ American banks are, starting this week, officially authorized to facilitate Bitcoin and other cryptocurrency transactions for their clients, advancing the integration between the traditional financial system and the digital asset world.

The authorization was confirmed by the Office of the Comptroller of the Currency (OCC), the agency that supervises federal banks in the country, through Interpretive Letter 1188, published on Tuesday.

In the document, the agency states that authorized financial institutions can perform operations known as riskless principal transactions, acting as intermediaries in the buying and selling of cryptocurrencies without holding a position in these assets.

In practice, the bank can buy Bitcoin from a client while simultaneously selling the asset to another client through a mirror transaction, eliminating market risk and functioning similarly to a brokerage activity.

According to the OCC, this form of intermediation falls within the traditional scope of “business of banking,” reinforcing that the role of financial institutions as investment intermediaries also extends to the digital assets environment.

The interpretive letter further highlights that the process is considered part of the banking powers already outlined in law, provided it is conducted in a “safe and sound” manner and in compliance with all applicable regulations.

The document clarifies that, although banks can act as intermediaries, they should not keep cryptocurrencies in stock, except in exceptional situations such as settlement failures.

The OCC states that such operations are comparable to routine activities in the banking sector, including securities intermediation, derivatives, and custody services. Therefore, it argues that the technology, in this case, the use of blockchain networks, does not alter the fundamental nature of banking activity.

The letter also emphasizes that allowing this type of operation can benefit consumers who wish to trade crypto assets through a regulated institution, reducing dependence on unregulated exchanges.

This move represents a significant regulatory advance in the US and signals greater openness from traditional financial institutions to the crypto world. By reaffirming that banks can facilitate Bitcoin transactions without taking on risk themselves, the OCC paves the way for banks to offer direct buying and selling of crypto assets to their clients in a safer, more transparent manner aligned with federal oversight.

It is worth remembering that earlier this week, PNC Bank became the first major US bank to offer direct Bitcoin trading within its own digital platform, in partnership with an American trading platform.