The Office of the Comptroller of the Currency (OCC) — the bureau responsible for regulating and supervising all national banks — has announced that US financial institutions may hold crypto assets to cover blockchain network fees.

National Banks Allowed To Manage Crypto

In a letter released on Tuesday, the OCC stated that banks are permitted to pay network fees to facilitate activities involving digital assets, provided the banks can foresee a legitimate need for holding these currencies.

The letter, which was signed by the Senior Deputy Comptroller and the Chief Counsel of the regulatory agency, states that a bank’s proposal to manage crypto assets on its balance sheet for the purpose of settling network fees is acceptable under current regulations.

Additionally, the OCC confirm

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