[Bank of America Approved by OCC to Conduct Cryptocurrency Brokerage Business] BlockBeats news, December 10, according to Bloomberg Law, under new guidelines from the Office of the Comptroller of the Currency (OCC), Bank of America is allowed to provide cryptocurrency transaction brokerage services, further clarifying how traditional lending institutions can legally participate in digital asset transactions. The OCC memorandum states that banks can act as brokers, purchasing assets from one counterparty and selling those assets to another counterparty. During this process, the lending institutions will not hold any cryptocurrency assets.