U.S. Banks Can Now Act as Bitcoin Intermediaries Without Holding Inventory

According to CoinRepublic, the Office of the Comptroller of the Currency (OCC) issued Interpretive Letter 1188 on December 9, 2025, confirming that national banks can engage in riskless principal crypto-asset transactions. The guidance allows banks to act as intermediaries by buying crypto from one customer and simultaneously selling to another without holding inventory. The move is part of a broader 2025 regulatory shift that has systematically removed barriers to bank participation in digital asset markets. The Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve also adjusted their policies to reduce legal uncertainty and operational hurdles for banks engaging in crypto activities. The regulatory clarity enables banks to custody, execute, and intermediate crypto transactions, potentially deepening liquidity and integrating digital assets into traditional financial services.