U.S. Regulator Allows Banks to Hold Crypto for Blockchain Fees
The OCC authorized national banks to hold cryptocurrency for paying blockchain network fees and testing platforms.Summary
The U.S. Office of the Comptroller of the Currency (OCC) issued interpretive letter No. 1186, permitting national banks to hold cryptocurrency on their balance sheets specifically to cover blockchain network fees, often called "gas fees," and to test internal or third-party crypto platforms. The OCC stated this is permissible when it supports otherwise lawful banking activities, likening it to historical practices like holding foreign currency. This guidance aims to reduce reliance on third-party providers and lower operational risks for banks engaging in crypto-related services, such as custody. Banks must manage associated risks carefully, and the held crypto amount should remain minimal relative to their capital. This move, under Comptroller Jonathan Gould, signals a growing crypto-friendly stance from the OCC, following earlier guidance that allowed custody and trading services.
(Source：Bitcoin Magazine)