OCC Greenlights Banks to Hold Crypto for Network Fees
The Office of the Comptroller of the Currency (OCC) has clarified that national banks can now hold cryptocurrency to cover operational costs like blockchain gas fees. This move formalizes banks' ability to engage with crypto-assets for permissible activities, provided they adhere to strict compliance measures.
Under Interpretive Letter 1186, banks may custody limited amounts of crypto strictly for transactional expenses and platform testing. The guidance emphasizes that holdings must be "reasonably foreseeable" for network fee payments—a measured step toward institutional crypto integration without endorsing speculative positions.
The ruling signals growing regulatory acceptance of crypto's infrastructure role. By sanctioning gas fee payments, the OCC acknowledges blockchain's operational realities while maintaining traditional banking safeguards. This creates a compliance pathway for banks exploring distributed ledger technology.
