The Office of the Comptroller of the Currency (OCC) has officially authorized American banks to store Ethereum as a primary asset. Senior Deputy Comptroller Adam Cohen stated that national banks can hold crypto assets to pay network fees, provided that the activities are part of banking services and conducted securely. This decision paves the way for increased institutional participation in the cryptocurrency market and the integration of digital assets into traditional banking.
The new guidance was developed collaboratively by the OCC, the US Department of the Treasury, and other financial agencies. The OCC’s chief counsel confirmed that this change alters how financial institutions approach cryptocurrencies. Banks can now incorporate Ethereum into their services, generating revenue from transaction service fees and custodial services. This decision strengthens Ethereum’s position in the traditional financial system and continues the trend of gradual liberalization of the US regulatory approach to cryptocurrencies.
Since 2020, the US government has been shifting its policy to support digital assets. In March, the OCC allowed federally regulated financial organizations to conduct a wide range of cryptocurrency operations without prior approval. Experts anticipate that this will lead to increased involvement from major financial organizations in Ethereum operations, fostering the development of storage and settlement technologies.
