The US Office of the Comptroller of Currency (OCC) has granted national banks permission to hold cryptocurrency on their balance sheets for paying blockchain transaction fees, marking a significant shift in Washington’s stance on digital assets. This policy change, outlined in Interpretive Letter No. 1186, allows banks to maintain crypto assets they anticipate needing for operational purposes related to customer services, custody operations or settlement activities. These assets would be used to execute on-chain activity tied to such services. The OCC explained this is necessary to address the operational friction that arises from using separate accounts or buying tokens on exchanges in real time, which can lead to price fluctuations and delays during volatile market conditions.