The U.S. Office of the Comptroller of the Currency (OCC) has released new guidance for national banks on managing crypto assets related to blockchain network 'gas fees.' According to interpretive letter No. 1186, banks are permitted to hold digital assets on their balance sheets to cover operational needs, such as paying network fees on behalf of customers or for custody operations.
This guidance is part of the OCC's efforts to align with the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, although comprehensive regulations for stablecoin activities are still being developed. The move aims to provide clarity and support for banks engaging with blockchain technologies.
OCC Clarifies Bank Handling of Blockchain Gas Fees
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