US OCC: Banks may hold certain Crypto Assets to pay for Gas fees.

Golden Finance reported that according to a new letter from the Office of the Comptroller of the Currency (OCC), banks can pay gas fees and hold the crypto assets needed to pay these network fees. The OCC, which is responsible for regulating banks, stated in its Interpretation Letter No. 1186 released on Tuesday that banks may need to pay network fees as part of conducting business and hold Crypto Assets on their balance sheets to pay these fees. The Office of the Comptroller of the Currency cited Ethereum as an example, pointing out that transactions on the Ethereum network require pricing in ETH. OCC stated: “Such users either need to maintain a separate Ethereum account, or need to conduct spot trading on a crypto assets exchange to acquire Ethereum before the transaction, or need to collaborate with third-party network fees providers, or obtain Ethereum through other means. This process may increase costs and significant risks, including operational complexity, asset price volatility, and transaction delays.”