Media Coverage
Source: Blockworks
Media Coverage
Press Contacts: Erik Cummins, Matt Hyams, Taina Rosa, Olivia Thomas
03.11.25
In yet another shift away from Biden-era regulations, the Office of the Comptroller of the Currency clarified that national banks could engage in some crypto activities and don’t necessarily need to seek permission from regulators before hopping into crypto.
Pillsbury partner Brian Montgomery told crypto trade publication Blockworks that his clients—which include banks, fintechs and the like—are excited about the regulatory shift at the federal level.
“Some banks have wanted to be able to provide services in the digital asset space, and haven’t been able to do it. So I don’t know that the tone for banks has changed. I think the tone from regulators has been changing over the last several months,” Montgomery said.
However, he cautioned that banks need to consider state regulations as well.
“We’ve had to remind folks and think to ourselves that there are still state regulators out there that have a say in a lot of how this works, and so—whether it’s potential money transmission activity or [state-chartered] banks providing these services—it’s a positive step that the federal administration and federal regulators are moving in this direction. But that’s not always the end of the game. [We] need to be thinking about state regulation as well,” Montgomery explained.