Crypto Law Profile
OCC Interpretive Letter 1183 rescinds the prior supervisory non-objection process and reaffirms covered bank crypto-asset custody, stablecoin, and DLT payment activities.
OCC Interpretive Letter 1183 on Bank Crypto-Asset Activities is a U.S. Office of the Comptroller of the Currency interpretive letter issued on March 7, 2025. The letter, officially titled OCC Letter Addressing Certain Crypto-Asset Activities, rescinds OCC Interpretive Letter 1179 and reaffirms that national banks and federal savings associations may engage in crypto-asset custody, certain stablecoin, and distributed-ledger payment activities previously addressed in Interpretive Letters 1170, 1172, and 1174.
As of June 4, 2026, this profile treats IL 1183 as active OCC interpretive guidance. The letter is not a standalone crypto banking statute. Its core effect is supervisory: it removes the prior supervisory non-objection process for covered activities while preserving ordinary examination, safe-and-sound operation, fair conduct, and compliance with applicable law.
Interpretive Letter 1179 had outlined a process under which banks seeking to conduct the activities addressed in IL 1170, IL 1172, or IL 1174 should notify their OCC supervisory office and receive written supervisory non-objection. IL 1183 states that OCC staff developed additional knowledge and supervisory experience after IL 1179 and determined that the extra process was no longer necessary.
The rescission is framed as a technology-neutral supervisory change. The OCC states that it is intended to reduce burden, encourage responsible innovation, enhance transparency, and ensure that bank activities are treated consistently regardless of the underlying technology.
IL 1183 reaffirms three earlier OCC interpretive letters. IL 1170 addresses crypto-asset custody services, including holding cryptographic keys for customers. IL 1172 addresses holding dollar deposits that serve as reserves backing stablecoins in certain circumstances. IL 1174 addresses banks acting as nodes on independent node verification networks, such as distributed ledgers, and engaging in certain stablecoin activities to facilitate payment transactions.
The letter does not remove OCC supervision of crypto-asset activities. The OCC states that it will examine the activities described in IL 1170, IL 1172, and IL 1174 as part of its ongoing supervisory process. It also states that banks must conduct all crypto-asset activities in a safe, sound, and fair manner and in compliance with applicable law.
For new activities, the OCC says development and implementation should be consistent with sound risk management practices and aligned with a bank’s overall business plans and strategies. For CryptoSlate readers, that means IL 1183 should not be read as a blanket approval for every digital-asset product. It is a banking-supervision interpretation tied to specific bank-permissible activities and ordinary prudential oversight.
IL 1183 applies to the OCC’s interpretation and supervision of national banks and federal savings associations. OCC Bulletin 2025-2, issued the same day, also states that the bulletin applies to community banks and was addressed to national banks, federal savings associations, federal branches and agencies, examining personnel, and other interested parties.
The same OCC action withdrew the OCC from two 2023 interagency statements as they apply to national banks and federal savings associations and rescinded related OCC bulletins. That withdrawal is important context, but the letter itself remains focused on the crypto-asset activities addressed in IL 1170, IL 1172, and IL 1174.
As of June 4, 2026, no separate future deadline or phase-in date was identified for IL 1183. OCC’s March 2025 interpretations page states that IL 1170, IL 1172, and IL 1174 remain in effect, and later OCC materials continued to cite IL 1183 when discussing crypto custody and related bank-permissible activities.
Removes the separate supervisory non-objection process that previously applied to activities addressed in IL 1170, IL 1172, and IL 1174.
Reaffirms that national banks and federal savings associations may provide crypto-asset custody services addressed in IL 1170.
Reaffirms prior OCC treatment of holding dollar deposits that serve as reserves backing stablecoins in certain circumstances.
Reaffirms prior OCC guidance on nodes on independent node verification networks and certain stablecoin payment transactions on DLT.
States that the OCC will examine covered activities as part of its ongoing supervisory process.
States that banks must conduct crypto-asset activities in a safe, sound, and fair manner and comply with applicable law.
OCC issued IL 1170 on national bank authority to provide cryptocurrency custody services for customers.
OCC issued IL 1172 on authority to hold deposits serving as stablecoin reserves in certain circumstances.
OCC issued IL 1174 on independent node verification networks and stablecoin payment activities.
OCC issued IL 1179 outlining supervisory non-objection expectations for the covered crypto activities.
OCC issued IL 1183, rescinding IL 1179 and reaffirming covered crypto-asset activities.
OCC announced IL 1183, withdrew from two 2023 interagency statements, and rescinded related bulletins.
OCC issued IL 1184 clarifying crypto-asset custody, execution, and outsourcing authority.
OCC issued IL 1186 on holding crypto-assets as principal for network fees and testing.
OCC, U.S. Treasury
Crypto assets, Stablecoins
Interpretive guidance, not legislation. IL 1183 rescinds IL 1179’s supervisory non-objection process while preserving OCC supervision, risk-management expectations, and compliance with applicable law.
