Banks Can Pay Gas Fees With Crypto? OCC Says Yes, But Don’t Get Too Excited 😎

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Breaking news: The OCC just gave banks a new superpower-using crypto to pay gas fees. Because who doesn’t want their bank to handle their crypto transactions like it’s 2025? 🚀

In a Tuesday notice, the OCC said US banks were allowed to hold crypto on their balance sheets to pay network, or gas fees, provided the transactions were for permissible activities. Oh, right, because nothing says “permissible” like paying fees with digital assets. 🤷‍♀️

“As with any activity, a national bank must conduct these activities in a safe and sound manner and in compliance with applicable law,” said the OCC. Because nothing says “safe” like trusting your crypto to a regulator who once thought Bitcoin was a fad. 🧠

The notice expanded upon a May letter informing banks that they could handle digital assets on behalf of their customers and outsource some crypto activities to third parties. Both sets of guidance came amid the OCC striking a different tone on crypto under US President Donald Trump, reducing the regulatory burden on financial institutions. Because nothing says “regulatory burden” like a 10-page memo about gas fees. 📄

The Tuesday letter cited the GENIUS stablecoin bill signed into law in July, which establishes a regulatory framework for payment stablecoins. According to the OCC, stablecoin transactions at authorized national banks will likely require network fees, allowing the bank to pay through assets in its custody or an agent. Because why not let banks handle your stablecoins like they’re managing your savings account? 💸

Implementing GENIUS Act, looking to pass market structure

Although the stablecoin bill was signed into law in July, the legislation is still likely to be months away from implementation, as the US Treasury and Federal Reserve need to finalize the regulations. It’s like a slow cooker-everything takes forever. 🧑‍🍳

In the meantime, lawmakers in the US Senate are reportedly moving forward with negotiations to pass a digital asset market structure bill, considered by many in the industry to be the most significant crypto-related law under consideration. Because nothing says “excitement” like a 100-page bill that’s still in negotiations. 📜

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2025-11-18 22:34