OCC Clears Path for Banks to Hold Crypto for Operational Network Fees

The Office of the Comptroller of the Currency (OCC) has issued guidance confirming that national banks can manage blockchain network fees as part of permissible banking activities. Specifically, banks may hold limited amounts of cryptocurrency on their balance sheets to cover anticipated network expenses incurred in supporting operational functions. This clarification builds upon earlier OCC rulings, offering clarity and streamlining the process for banks seeking to incorporate crypto-asset technology into their services.