[U.S. Office of the Comptroller of the Currency Confirms Banks Can Engage in Risk-Free Principal Crypto Asset Transactions] The U.S. Office of the Comptroller of the Currency (OCC) today issued Interpretive Letter 1188, confirming that national banks are permitted to engage in activities related to risk-free principal crypto asset transactions. Such transactions involve banks acting as principals in crypto asset transactions with one client while conducting offsetting transactions with another client. Banks act as intermediaries, do not hold crypto asset inventories, and operate in a manner similar to agency brokers. Activities must be conducted in a safe and sound manner and comply with legal requirements.