OCC Approves Banks Holding Crypto for Gas Fees

In Interpretive Letter No.1186, the US Office of the Comptroller of the Currency (OCC) approved that national banks may hold native crypto tokens on their balance sheets to cover crypto gas fees. This guidance removes costly workarounds—such as purchasing tokens for each transaction or outsourcing fee payments—and aligns with the Federal Reserve’s withdrawal of anti-crypto directives and the pending GENIUS Act stablecoin framework. Media executive Paul Barron noted on X that banks can now manage BTC, ETH, XRP and SOL directly, eliminating third-party reliance. Traders should monitor how banks integrate this capability, as direct payment of crypto gas fees could reduce transaction delays, lower volatility risk, and spur institutional on-chain trading and broader crypto adoption.