The U.S. Office of the Comptroller of the Currency (OCC) has issued Interpretive Letter 1188, allowing national banks to engage in "risk-free principal" cryptocurrency trading. This permits banks to act as intermediaries, executing cryptocurrency transactions for clients without holding any crypto assets themselves. The banks will conduct these trades by entering into a transaction with one client and simultaneously executing a reverse transaction with another, effectively acting as agent brokers. These activities must adhere to safety and soundness standards and comply with relevant laws.