OCC Confirms Banks Can Hold Crypto for Network Fee Payments

The Office of the Comptroller of the Currency (OCC) has issued new guidance affirming that U.S. banks may hold cryptocurrencies to pay blockchain network fees, often referred to as "gas fees." The regulator clarified that these activities are permissible when facilitating approved crypto-related services, including custody operations or customer transactions.

Banks can now maintain digital assets on their balance sheets specifically for testing and participating in crypto-asset platforms, whether developed internally or acquired from third parties. The MOVE aligns with the Guiding and Establishing National Innovation for U.S. Stablecoins Act, requiring institutions to cover network fees as part of their operational infrastructure.

"This enables national banks to expand pre-existing permissible activities," said Adam Cohen, OCC’s senior deputy comptroller and chief counsel. The decision signals growing institutional acceptance of crypto’s role in traditional finance, though no specific coins or exchanges were directly referenced in the announcement.