OCC Clears Path for Banks to Hold Cryptocurrency, Signaling Potential Boost for Digital Assets

The U.S. Office of the Comptroller of Currency (OCC) has released new policy guidance allowing national banks to hold cryptocurrencies, a move that could significantly impact the industry’s growth. The guidance clarifies that banks can incorporate digital assets onto their balance sheets for operational purposes, as long as they meet certain criteria. Notably, this allows banks to set aside funds to cover transaction fees on blockchain networks, which are typically paid in the network’s native token.