TechFlow news, November 19 — According to The Block, the Office of the Comptroller of the Currency (OCC) issued Interpretive Letter 1186 on Tuesday, confirming that banks may hold specific cryptocurrencies to pay for blockchain network fees. The OCC specifically cited the Ethereum network as an example, noting that Ethereum transactions require ETH to pay gas fees, and banks may hold the necessary cryptocurrency on their balance sheets to cover these costs.
The guidance states: "We confirm that the proposed activities described by the bank are permissible," and explains that failing to do so could result in "costs and significant risks related to operational complexity, asset price volatility, and transaction delays."
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