The Office of the Comptroller of Currency (OCC) has taken a decisive step in regulating the financial landscape by granting banks permission to store crypto assets solely for processing blockchain network fees. This policy paves the way for wider integration of blockchain settlement processes within US financial institutions, aiming to address the challenges posed by stablecoin adoption and pressure to modernize banking infrastructure. <r>
The new framework allows banks to hold limited cryptocurrency balances necessary for on-chain transactions while adhering to rigorous regulatory oversight. This follows previous OCC guidance allowing banks to manage their own blockchain nodes and ledger systems – a foundation that this latest move builds upon. This development comes in response to growing pressure from the banking sector to clarify how it can handle stablecoin adoption while navigating new opportunities presented by blockchain technology.