OCC Clears Path for Banks to Use Crypto for Blockchain Fees

The U.S. Office of the Comptroller of the Currency (OCC) has issued a significant clarification, allowing banks to utilize cryptocurrencies for paying blockchain network fees on approved banking activities. This groundbreaking move, confirmed by Acting Comptroller Michael J. Hsu, opens up new possibilities for institutions like JPMorgan and Citi, enabling them to directly engage with crypto-asset networks for financial transactions.