Scan to Download Gate App
qrCode
More Download Options
Don't remind me again today

The US OCC gives the green light: banks can hold Crypto Assets to pay Gas fees, specifically mentioning Ethereum ( ETH ).

The OCC (Office of the Comptroller of the Currency) in the United States allows banks to account for cryptocurrencies like ETH for Gas expenditures, removing regulatory barriers for the integration of traditional finance with public blockchain infrastructure. (Background: SoFi Technologies' stock price broke above $32, hitting a new high! Approved by the OCC, becoming the first Bitcoin charter bank in the United States.) (Context: U.S. banks are collectively resisting Coinbase's application for a trust license, facing high liquidation risks.) The OCC ( issued Interpretive Letter 1186 on the 18th, confirming that national banks can hold a small amount of cryptocurrencies on their balance sheets specifically for paying blockchain transaction fees )Gas Fees(. This is the first time that the operational costs of public blockchains have been formally included in the federal regulatory banking business, providing a legal basis for the deep integration of traditional finance and blockchain. Key points of the new policy: The OCC positions holding coins to pay for Gas as an 'incidental business,' similar to banks holding foreign currencies for settling cross-border transactions. The document specifically mentions Ether (ETH) and suggests that Bitcoin, Solana, and XRP may also apply. Regulatory requirements include: Holdings must be 'minimal' relative to bank capital. Operations must comply with the principles of 'safety and soundness.' Banks must simultaneously manage market, operational, cybersecurity, and legal risks. Relevant tokens can be used when developing or testing third-party platforms internally. Failing to do so (holding tokens) may lead to significant risks related to operational complexity, asset price fluctuations, and transaction latency. The OCC's statement highlights that if banks cannot pay Gas fees in a timely manner, they will find it difficult to complete on-chain custody or transfers for customers; however, the OCC also stated that if holdings exceed actual needs or regulatory requirements are not met, supervisory authorities may demand immediate rectification. Implications of new opportunities: This interpretive letter eliminates some compliance gray areas for banks entering the public blockchain and lays the groundwork for future participation in attestation )PoS( verification nodes or staking businesses. In light of the current open attitude of the Trump administration towards financial innovation, the market expects more large banks to launch blockchain settlement and custody services by 2026, treating crypto assets as part of their daily operating costs. For investors, institutional-level entry is expected to reduce infrastructure risks and bring more mature liquidity to cryptocurrencies. After the policy is implemented, the global banking industry will closely observe the United States' direction to assess whether to follow the same model. Related reports: SEC ends Uniswap investigation! Founder: Burned through millions over three years, DeFi finally wins Alpha digging gold》Shadow Exchange innovative x)3,3( mechanism, what is it? Sonic breaks through Uniswap's dilemma. How Flaunch leverages Uniswap V4 to flip meme-launch platform pain points, can the innovative mechanism drive the Base ecosystem to da moon?〈U.S. OCC gives the green light: banks can hold cryptocurrencies to pay Gas fees, specifically mentioning Ethereum )ETH(〉This article was first published in BlockTempo, the most influential blockchain news media.

ETH0.31%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)