OCC Clarifies Banks Can Hold Crypto for Network Fees
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BTCCSquare news:
The Office of the Comptroller of the Currency (OCC) has issued interpretive guidance permitting national banks to hold and use cryptocurrencies for blockchain network fees, marking a significant regulatory shift. Banks can now maintain crypto balances specifically for covering gas fees tied to approved activities, aligning operational practices with compliance requirements.
This MOVE reverses prior administrative hesitancy, providing much-needed clarity for financial institutions engaging with digital assets. The OCC's letter underscores a growing recognition of crypto's role in modern banking infrastructure, though it limits holdings to amounts strictly necessary for transactional purposes.
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