16:12 - 15.07.2025

---

July 15, Fineko/abc.az. The Office of the Comptroller of the Currency (OCC) has published the updated rules on the custody of cryptocurrencies.

ABC.AZ informs that the document was prepared jointly with the Federal Reserve System and the Federal Deposit Insurance Corporation.

The new instructions remove previous restrictions that prevented American banks from entering the crypto market. In particular, banks are required to maintain full control over customers' private keys, while it is prohibited to transfer them to customers themselves. Cybersecurity, risk management, AML/CFT compliance, and mandatory staff qualifications are also being introduced.

Banks are allowed to involve subcastodians, but with full responsibility for their work. The first projects are expected to be launched as part of pilot programs.