OCC Permits Banks to Hold Crypto for Blockchain Gas Fees

The U.S. Office of the Comptroller of the Currency (OCC) has issued Interpretive Letter No. 1186, clarifying that national banks may hold crypto assets on their balance sheets to cover anticipated blockchain gas fees. This guidance allows banks to maintain the specific tokens required to process transactions on various networks, either as a principal or acting on behalf of customers in custody operations. The policy aligns with provisions in the Guiding and Establishing National Innovation for U.S. Stablecoins Act, permitting banks to hold amounts of digital assets reasonably needed for operational gas fees. This marks a shift from previous caution under earlier administrations. OCC Comptroller Jonathan Gould, confirmed in July 2025, has overseen this pro-crypto stance. Other U.S. regulators, including the Federal Reserve and FDIC, are still drafting stablecoin rules under the GENIUS Act. By removing uncertainty around gas fees, the OCC’s clarification may pave the way for expanded crypto services from national banks.