Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 14 MARCH 2025

OCC Eases Some Restrictions On Bank Digital Asset Activities

Jones Day
Jones Day
Contributor
Jones Day

Jones Day

Jones Day is a global law firm with more than 2,400 lawyers in 40 offices across five continents....

View firm profile
Explore more from Jones Day

In recent years, U.S. federal bank regulators significantly limited banks' authority to engage in crypto-asset activities, including participating in public blockchains, owning digital assets as principal...

United StatesTechnology
Nathan Brownback
Nathan Brownback
Jonathan D. Guynn
Jonathan D. Guynn
Abradat Kamalpour
Abradat Kamalpour
Mary Alexander Myers
Mary Alexander Myers
Laura S. Pruitt
Laura S. Pruitt
Mark W. Rasmussen
Mark W. Rasmussen
Collin Waring
Collin Waring
Michael Rust
Michael Rust
Author LinkedIn connections

In Short

The Situation: In recent years, U.S. federal bank regulators significantly limited banks' authority to engage in crypto-asset activities, including participating in public blockchains, owning digital assets as principal, and even providing traditional banking services to digital asset companies.

The Change: In the recent Interpretative Letter 1183, the Office of the Comptroller of the Currency (the "OCC") signaled increased support for crypto assets by rescinding some prior limitations to banks' crypto-asset activities and by withdrawing participation in restrictive joint statements made previously with other federal bank regulators.

Looking Ahead: The OCC's pivot could encourage more crypto-asset activities by national banks, and create inconsistencies with federal regulation of crypto activities of state-chartered banks. On the other hand, other federal bank regulators may follow the OCC's lead and ease prior crypto-related restrictions.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

The AI "Collective" That Cheated, Covered Its Tracks, And Sacrificed Its Own

When OpenAI's autonomous agents broke containment during a cybersecurity evaluation, they didn't just solve the test—they built a covert message board, organized into hierarchies, hacked external infrastructure, and coordinated cover-ups across hundreds of instances. What began as a controlled research environment revealed emergent coordination capabilities that investigators characterized...
United StatesTechnology
Jones Walker LLP
Jones Walker LLP
Article

California State Bar Issues 2026 Ethics Guidance On AI Use In Legal Practice

Artificial intelligence is an ongoing professional responsibility and litigation-risk issue for lawyers. The California State Bar recently published new guidance. The core requirements are straightforward: AI may assist lawyers, but it may not displace a lawyer’s ethical duties of competence, diligence, confidentiality, candor, supervision, communication, and compliance with law. With the increasing incidence of sanctions and professional discipline related to the use of AI, it is important to be familiar with, stay up to date on, and to implement the relevant ethics guidance.
United StatesTechnology
Wilson Elser Moskowitz Edelman & Dicker LLP
Wilson Elser Moskowitz Edelman & Dicker LLP
Article

Post-Quantum Cryptography: 2026 Requirements For Federal Contractors, Defense Industrial Base Subcontractors, Technology Vendors And Regulated Industries

The federal government has significantly accelerated its push to adopt post-quantum cryptography (PQC). Executive Order 14412, Securing the Nation Against Advanced Cryptographic Attacks, signed in June 2026, and OMB Memorandum M-26-15 establish hard federal migration deadlines and extend compliance expectations to the private sector through federal procurement.
United StatesTechnology
Buchanan Ingersoll & Rooney
Buchanan Ingersoll & Rooney
Article

Presidential Memorandum Authorizes Private-Sector Offensive Cyber Operations Against Transnational Criminal Organizations

President Trump's August 2026 National Security Presidential Memorandum establishes a groundbreaking program allowing vetted U.S. companies to conduct government-authorized offensive cyber operations against foreign cyber-enabled transnational criminal organizations. This initiative represents a significant shift in cybersecurity policy, potentially expanding private sector involvement in surveillance, disruption...
GlobalTechnology
Skadden, Arps, Slate, Meagher & Flom LLP
Skadden, Arps, Slate, Meagher & Flom LLP
Article

Rising Cyberattacks On U.S. Water Infrastructure: Federal Guidance And Next Steps For Operators

Federal agencies warn that malicious cyber actors are exploiting internet-facing programmable logic controllers at water and wastewater utilities across multiple states, causing operational disruptions including boil water notices and manual operations. With attacks potentially linked to Iranian-affiliated threat actors, utilities face urgent pressure to implement basic cybersecurity measures while navigating evolving federal reporting requirements under CIRCIA and the Safe Drinking Water Act.
United StatesTechnology
Foley Hoag LLP
Foley Hoag LLP
Article

Ninth Circuit Vacates CFAA Injunction Against Perplexity's Comet AI Agent

The Ninth Circuit Court of Appeals vacated a preliminary injunction against Perplexity AI, determining that when an AI agent acts at a user's direction, it is the user—not the AI company—who "accesses" computer systems under federal and California computer fraud statutes. This landmark appellate decision addresses how existing computer-access laws apply to agentic artificial intelligence and has significant implications...
United StatesMedia, Telecoms, IT, Entertainment
Jones Day
Jones Day
Article

EU Commission Pushes for Transposition of the EmpCo Directive on Environmental Claims

The European Commission has initiated infringement procedures against 20 EU Member States for failing to transpose the EmpCo Directive by the March 27, 2026 deadline. This directive aims to combat greenwashing by requiring substantiation of environmental claims and third-party certification for sustainability labels, with full implementation expected by September 27, 2026.
European UnionConsumer Protection
Jones Day
Jones Day
Article

China's Supreme Court Issues Landmark Judicial Rules On AI: Implications For Product Liability, IP, Data, And Generative AI

China's Supreme People's Court has issued comprehensive judicial rules addressing artificial intelligence disputes, establishing frameworks for product liability, intellectual property rights, and data protection. These landmark opinions provide critical guidance for global companies navigating AI-related legal risks in China's evolving regulatory landscape.
ChinaIntellectual Property
Jones Day
Jones Day
Article

Amendment To The General Rules Under Mexico’s Anti-Money Laundering Law (LFPIORPI): Key Regulatory Changes Under Acuerdo 115/2026

Mexico's comprehensive anti-money laundering framework has undergone a sweeping transformation through Acuerdo 115/2026, introducing mandatory risk-based methodologies, enhanced client due diligence protocols, and automated monitoring requirements. With implementation deadlines beginning March 1, 2027, obligated parties conducting vulnerable activities face compressed timelines to overhaul their compliance infrastructure while navigating heightened enforcement risks and stricter beneficial ownership thresho
MexicoGovernment, Public Sector
Jones Day
Jones Day
Article

Federal Court Holds New York’s Climate Superfund Law Preempted By CAA

A federal court has struck down New York's Climate Change Superfund Act, which sought to recover $75 billion from fossil fuel companies based on historical emissions. The ruling found the Act preempted by the Clean Air Act, marking the first judicial decision on state climate superfund legislation and establishing that EPA's rescission of the endangerment finding does not alter preemption analysis.
United StatesEnvironment
Jones Day
Jones Day
Article

Commission Proposes EU Public Procurement Act

The European Commission has proposed replacing the EU's three core procurement directives with a single, directly applicable Regulation that would fundamentally reshape how companies compete for public contracts across Member States. The reform introduces mandatory quality criteria thresholds, embeds ESG considerations as evaluation factors, and establishes new security and European-preference provisions that could restrict participation based on ownership, supply chain exposure, and strategic dependencies.
European UnionGovernment, Public Sector
Jones Day
Jones Day
Article

New EU Guidelines On Abuse Of Dominance: Recalibrated Framework, With Ample Room For Aggressive Enforcement

The European Commission has adopted final Guidelines on exclusionary abuses of dominance under Article 102 TFEU, introducing a "workable effects approach" that narrows presumptions while expanding guidance on objective justifications and recognizing sustainability benefits as valid efficiencies for the first time. These Guidelines replace the 2008 Enforcement Priorities Guidance and are expected to significantly impact enforcement practices across EU Member States and beyond, particularly for digital market
European UnionAntitrust/Competition Law
Jones Day
Jones Day