Regulator clarifies US banks can handle gas fees using crypto holdings
Overview
The Office of the Comptroller of the Currency (OCC) has clarified that authorized national banks in the United States can manage gas fees using their cryptocurrency holdings. This announcement references provisions outlined in the recently passed GENIUS Act.
What Happened
The OCC’s clarification provides guidance on how national banks can engage with cryptocurrencies. It specifies that under certain conditions, these banks are permitted to hold cryptocurrencies. The statement particularly highlights the ability to utilize these holdings for managing gas fees, which are essential for executing transactions on blockchain networks.
This development is significant as it establishes a framework for banks to interact with cryptocurrencies, potentially fostering greater acceptance and integration of digital assets within the traditional banking system.
Impact on the crypto market
- Increased legitimacy for cryptocurrency holdings among national banks.
- Potential for greater participation of traditional financial institutions in the crypto space.
- Enhanced operational capabilities for banks in managing transaction costs associated with cryptocurrencies.
- Encouragement for further regulatory clarity and support for digital asset innovation.
- Possible influence on market sentiment regarding the role of banks in the cryptocurrency ecosystem.
Updated: 11/19/2025, 4:33:41 PM
