OCC Authorizes US National Banks to Hold Cryptocurrency for Blockchain Network Fees

The Office of the Comptroller of the Currency issued Interpretive Letter 1186 on November 18, permitting national banks to hold cryptocurrency on their balance sheets to cover blockchain network fees. The ruling enables banks to maintain native tokens like ETH for operational gas costs without relying on third-party providers, removing a key barrier for institutions running on-chain custody and stablecoin services. Banks may hold these assets as principal where they have a reasonably foreseeable operational need, the OCC stated.