Key Takeaways
- The US Office of the Comptroller of the Currency (OCC) now permits banks to hold crypto assets specifically for paying blockchain network fees.
- This move enables federally chartered banks to manage the digital assets needed for blockchain-based transactions under regulated oversight.
The Office of the Comptroller of the Currency (OCC), a US banking regulator, has allowed banks to hold crypto assets specifically to pay network fees for blockchain activities.
The decision enables chartered banks to maintain digital assets necessary for specified blockchain operations while enhancing their financial services offerings under federal oversight.
The OCC previously allowed banks to hold crypto related to specified blockchain activities to enhance financial services. Chartered banks have been entering the crypto sector under federal oversight to capture new fees and attract customers.
Stablecoin adoption has been driving banks to engage in digital assets to prevent deposit losses and maintain control over payment processing systems.
Source: https://cryptobriefing.com/us-banks-allowed-hold-crypto-network-fees-occ/
