Ethereum News Today: U.S. Banks Granted Crypto Reserves as Nation Pursues Blockchain Leadership

The U.S. Office of the Comptroller of the Currency (OCC) has clarified that national banks can now hold cryptocurrencies on their balance sheets to pay blockchain network fees, marking a pivotal shift in regulatory approach toward digital assets. The guidance, issued via Interpretive Letter 1186, allows banks to retain crypto assets like Bitcoin and Ethereum for permissible activities, including paying gas fees for blockchain transactions. This move aligns with broader efforts under President Donald Trump's administration to reduce regulatory barriers and position the U.S. as a global crypto hub.

The OCC emphasized that banks must conduct these activities "in a safe and sound manner and in compliance with applicable law," as stated in the guidance, while permitting them to hold crypto reserves for testing blockchain platforms or facilitating transactions. The agency cited the recently enacted GENIUS Act, which established a regulatory framework for stablecoins, as a key driver for the updated guidance. Stablecoin transactions at authorized banks will likely require network fees, which institutions can now pay using their own crypto holdings or through agents.

The decision addresses a long-standing ambiguity for banks seeking to integrate crypto services. Previously, institutions needed special permissions to hold digital assets for operational purposes, slowing innovation in areas like stablecoin adoption. By allowing crypto reserves for gas fees, the OCC enables banks to streamline processes such as validating transactions on networks like Ethereum, where ETH is required to cover network costs. This eliminates reliance on third-party intermediaries, improving operational efficiency.

The regulatory shift coincides with a surge in bank interest in crypto-related services. JPMorgan Chase, Bank of America, and other major institutions are preparing to launch crypto custody offerings and dollar-backed stablecoins. Financial custodians like BNY Mellon and State Street are also developing platforms for institutional crypto trading. The OCC's guidance provides a clearer path for these initiatives, particularly as the Treasury and Federal Reserve work to finalize rules under the GENIUS Act, expected to take effect within months.

The Senate Banking Committee plans to vote in December 2025 on a comprehensive crypto market structure bill which designates Bitcoin and Ether as commodities, under CFTC jurisdiction, aiming to resolve regulatory conflicts between the SEC and CFTC while imposing safeguards for exchanges. If passed, the bill would further solidify the U.S. regulatory framework, with Trump anticipated to sign it into law.

The OCC's action reflects a broader pro-crypto agenda under Trump, including an executive order in January 2025 to establish the U.S. as a "crypto capital" and collaborative efforts with agencies like the SEC and CFTC to remove prior warnings against crypto engagement. These developments signal a strategic pivot toward embracing digital assets, balancing innovation with financial stability.