US Banks Cleared to Hold Crypto for Blockchain Network Fees

The OCC now allows U.S. banks to hold crypto assets on their balance sheets for the purpose of paying blockchain network fees, providing regulatory clarity and supporting blockchain integration in banking.

The U.S. Office of the Comptroller of the Currency (OCC) has issued new guidance allowing national banks to hold cryptocurrency specifically for paying blockchain network fees, commonly known as "gas fees." According to Interpretive Letter 1186, banks may maintain digital assets on their balance sheets if they are needed for operational purposes, such as facilitating permissible crypto-asset activities or testing blockchain platforms. The OCC clarified that these holdings must be limited to amounts necessary for reasonably foreseeable needs and must be tied directly to specific, allowed banking activities. This move provides regulatory clarity for banks seeking to integrate blockchain technology into their operations, streamlining transaction processes and reducing reliance on third-party payment processors. The OCC emphasized that all such activities must be conducted safely, in compliance with existing laws, and with appropriate risk controls. This decision marks a significant step toward mainstream financial integration of digital assets and signals growing acceptance of cryptocurrency's role in modern banking.