Overview
- Interpretive Letter No. 1186 sets policy on how national banks may maintain digital assets for network fee payments.
- Banks may hold on their balance sheets native tokens they reasonably expect to need to pay gas fees as principal.
- The guidance permits paying network fees as an agent for customers or within custody services authorized by the GENIUS Act.
- The Federal Reserve, FDIC and Treasury are developing implementing rules for stablecoin activity that are not yet in effect.
- The OCC’s move reflects a policy shift under Comptroller Jonathan Gould in President Donald Trump’s pro-crypto administration.