The Office of the Comptroller of the Currency (OCC) has officially authorized U.S. banks to hold select cryptocurrencies—including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP—for operational purposes such as paying blockchain gas fees. The approval marks one of the most substantial regulatory advances for crypto within the U.S. financial system.
Banks Receive Approval to Use Crypto Operationally
The announcement, outlined in Interpretive Letter 1186, clarifies how banks may use digital assets in their day-to-day activities. This decision allows national banks to directly hold and use crypto assets to complete blockchain-based transactions, including sending payments on networks like Ethereum and Solana.
The guidance also applies to tokenized platforms that rely on native tokens for gas fees. With this update, banks can now validate and process transactions directly on decentralized networks—an ability that previously required third-party intermediaries.
Until now, strict regulations and uncertainty kept many traditional institutions from adopting crypto-related services. With clearer rules, banks may hold and utilize approved digital assets for legitimate operational needs such as transaction settlement and internal platform testing. This new step follows earlier OCC actions that allowed banks to work with stablecoin issuers.
The agency emphasized that banks must still manage all related risks. This includes maintaining strong cybersecurity measures, internal controls, and compliance systems to ensure digital asset usage remains safe and compliant.
A Shift Toward Clearer Crypto Regulation
The OCC underscored that all crypto-related activities must still comply with existing banking laws. In addition to operational use, the regulator confirmed that banks may hold crypto assets strictly for internal testing. This supports the growing integration of blockchain technology in financial services.
For example, banks experimenting with tokenized settlement networks or smart contract platforms may now hold the required tokens directly. This demonstrates a broader acknowledgment by regulators that blockchain technology is becoming essential to the future of banking.
Allowing banks to hold crypto assets for operational reasons is expected to accelerate blockchain adoption across the U.S. financial system. The OCC’s decision also aligns with broader efforts from the CFTC and SEC to cooperate on clearer crypto regulations.
Interpretive Letter 1186 signals a meaningful regulatory shift: the government is becoming more open to blockchain innovation while retaining oversight of the industry.
