The U.S. Office of the Comptroller of the Currency has clarified that national banks may hold certain cryptocurrencies to cover network fees tied to approved digital asset operations.
The update adds regulatory certainty at a time when the US is still shaping its broader crypto rulebook.
OCC Confirms Banks’ Ability to Hold Crypto for Operational Use
In its Tuesday guidance, the OCC confirmed that banks can keep specific crypto-assets on their balance sheets to pay network, or gas, fees. However, this permission applies only when the fees support activities already allowed under banking rules.
Additionally, the agency stated that banks may hold crypto as principal when testing platforms linked to legitimate crypto services.
Importantly, the OCC reiterated that all crypto-related activities must remain safe and sound and fully comply with applicable laws.
Guidance Builds on Earlier Direction for Digital Asset Services
Notably, the new notice does not stand alone. Instead, it builds on a May letter that opened the door for banks to handle customer-facing digital asset services and outsource certain crypto functions to third parties.
Together, these updates demonstrate the OCC’s ongoing efforts to provide clarity for banks exploring digital assets. They also reflect a shift from the more restrictive posture seen during the Biden administration, offering institutions a clearer path forward.
GENIUS Act Shapes Regulatory Expectations
The latest guidance also aligns with the GENIUS stablecoin legislation signed in July. This law establishes a federal framework for payment stablecoins, which will subsequently fall under the oversight of banking regulators.
Specifically, the OCC noted that stablecoin transactions often incur network fees, which may require banks to utilize cryptocurrency already in custody. Otherwise, they might rely on agents to process those fees.
Consequently, this link between operational needs and regulatory clarity helps explain why the OCC addressed gas-fee handling at this time.
Implementation of the Stablecoin Law Still Months Away
Although the GENIUS Act is now law, its provisions are not yet in effect. The U.S. Treasury and the Federal Reserve must still develop implementing rules, delaying full execution for several months.
In the meantime, the OCC’s interim guidance provides banks with essential direction, enabling them to navigate the transition and prepare for the forthcoming regulatory framework.
Meanwhile, as regulators finalize rules for stablecoins, lawmakers are moving forward with legislation on the structure of digital-asset markets.
Overall, these parallel efforts—regulatory updates from the OCC and legislative action in the Senate—signal that the U.S. is moving toward a more defined and coordinated approach to crypto oversight.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
