In The Press August 12, 2020

OCC Letter May Help Ease Banks' Lingering Crypto Concerns (Law360)

The Office of the Comptroller of the Currency last month affirmed in an interpretive letter that national banks and savings associations can provide custody services for cryptocurrency. Despite some conflicting regulatory guidance, William Stern, a partner with Goodwin who works in the firm's consumer financial services and fintech practices, said if they move forward, banks will ultimately need to carefully and individually assess their own policies and procedures to ensure that adequate safety measures are in place. Read the Law360 article here.