According to a new letter from the US Treasury's Office of the Comptroller of the Currency (OCC), banks can pay gas fees and hold the cryptocurrency needed to pay for these networks.
The OCC, which oversees banks, said in its Interpretation Letter No. 1186 issued on Tuesday that banks may be required to pay network fees as part of conducting business and hold cryptocurrencies on their balance sheets to cover those fees.
The Office of the Comptroller of the Currency pointed to Ethereum as an example, noting that the network requires transactions to be denominated in ETH. "Such users would either need to maintain a separate Ethereum account, conduct spot transactions on a crypto exchange to obtain Ethereum before trading, or work with a third-party network fee provider or otherwise acquire Ethereum," the OCC said. "This process may increase costs and significant risks, including operational complexity, asset price volatility and transaction delays."
OCC: Banks Can Hold Certain Cryptocurrencies to Pay Gas Costs
2025-11-18 21:23:59
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