---
title: "The regulatory agency of Bank of America issued a cryptocurrency custody framework"
description: "The Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation jointly released a framework for the custody of crypto assets, allowing banks to hold "
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/248486970.md"
published_at: "2025-07-14T20:34:49.000Z"
---

# The regulatory agency of Bank of America issued a cryptocurrency custody framework

> The Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation jointly released a framework for the custody of crypto assets, allowing banks to hold cryptocurrencies in a fiduciary or non-fiduciary capacity. Banks are required to establish internal controls to manage risks, ensure that employees possess technical expertise, and implement safeguards to prevent asset loss or unauthorized transfers. Legal compliance, cybersecurity, and audit programs are emphasized as necessary

The Federal Reserve, the Office of the Comptroller of the Currency (OCC), and the Federal Deposit Insurance Corporation (FDIC) jointly issued a statement on Monday regarding the custody of crypto assets, providing a regulatory framework for banks holding digital assets.

According to the document, banks can hold cryptocurrencies in a custodial or non-custodial capacity and must establish robust internal controls to manage risks, particularly those related to the security of cryptographic keys.

The agencies emphasized that banks should ensure their employees possess sufficient technical expertise and implement safeguards to prevent the loss or unauthorized transfer of digital assets. Legal compliance, cybersecurity, and auditing programs were highlighted as necessary

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.
