OCC says banks can hold certain cryptocurrencies to pay gas fees in latest guidance

The Treasury Department's Office of the Comptroller of the Currency (OCC) released Interpretive Letter 1186, confirming that banks are permitted to hold certain cryptocurrencies on their balance sheets specifically to pay for network transaction fees, often called gas fees. The OCC noted that for networks like Ethereum, which require transactions to be denominated in its native token (ETH), banks might otherwise need to maintain separate crypto accounts or use third-party providers, which introduces operational complexity and risks. This move follows a broader shift in regulatory stance toward cryptocurrency under the current administration, including previous guidance from the Federal Reserve and joint statements clarifying rules for banks holding crypto on behalf of customers.

(Source：The Block)