OCC Authorizes National Banks to Hold Crypto Assets for Operations

The Office of the Comptroller of the Currency issued Interpretive Letter 1186 on November 18, authorizing national banks to hold native crypto assets and pay blockchain network fees. The guidance enables banks to acquire tokens needed for transaction fees and testing purposes on distributed-ledger networks. Banks may now hold assets on networks including Ethereum, Solana, and Avalanche for operational requirements rather than speculative positions.