The OCC is advocating for a significant enhancement in financial education to keep pace with the rapid growth of digital assets, emphasizing the need for modernized approaches to safeguard and educate emerging crypto investors.
OCC Urges Enhanced Financial Education on Cryptocurrency
The Office of the Comptroller of the Currency (OCC), which regulates national banks and federal savings associations, has initiated efforts to provide clearer guidance on the regulatory landscape for digital assets within the U.S. banking sector. During a speech at the Financial Literacy and Education Commission (FLEC) on May 29, 2025, Acting Comptroller Rodney E. Hood emphasized the growing role of cryptocurrencies and digital assets in modern financial services.
“Everyone involved in the financial landscape—including financial educators—must stay vigilant in tracking the fast-evolving financial environment and adapt educational strategies to match,” Hood stated. “To illustrate, nearly 5% of households owned or used cryptocurrency in 2023, and over 90% of those individuals treated it as an investment,” he added.
Given the level of interest, expanding financial literacy resources to address digital asset investments may be useful.
Hood’s remarks underscore the OCC’s responsibility in facilitating banks’ involvement with digital assets under a well-defined and secure regulatory structure.
The Acting Comptroller of the Currency also emphasized the importance of modernizing financial education strategies to reflect the increasing participation of consumers in digital assets, particularly among first-time investors. He recommended designing financial literacy programs to help newcomers understand both the risks and benefits of digital assets. Hood noted that the OCC, a longstanding advocate for financial education, must expand its initiatives to include guidance on evolving financial instruments such as cryptocurrency.
This strategy aligns with the OCC’s May guidance, which affirmed that national banks and federal savings associations can offer cryptocurrency services—including custody and trade execution—if they implement robust risk management measures. “The federal banking system is well equipped to participate in digital asset activities,” the OCC noted. The agency’s stance reflects a careful yet encouraging approach toward incorporating digital assets into traditional banking, while also emphasizing the need for strong consumer protection and financial awareness.
