OCC Allows National Banks to Hold and Use Cryptocurrency in Specific Cases
On November 18, 2025, the Office of the Comptroller of the Currency (OCC) issued an interpretive letter allowing national banks to hold and spend cryptocurrency in certain cases. This new policy permits banks to keep crypto on their balance sheets to pay blockchain network fees related to otherwise permissible banking activities.
Additionally, banks may hold and use digital assets for testing crypto-related platforms. This move reverses Biden-era restrictions that generally required regulator approval for crypto activities and discouraged banks from participating in permissionless network involvement.
Earlier in March, the OCC rescinded the previous policy that mandated regulator approval before banks engaged in crypto activity. The updated policy also authorized custody of customer crypto assets and certain stablecoin activities.
This shift is framed as part of a broader push to move traditional banking functions on-chain and to increase banks' direct involvement in the cryptocurrency space. The change effectively brings large U.S. banks closer to operating on-chain equivalents of core banking functions.
