US Banks Authorized To Hold Crypto For Blockchain Transaction Fees, OCC Reveals
The Office of the Comptroller of the Currency (OCC) — the bureau responsible for regulating and supervising all national banks — has announced that US financial institutions may hold crypto assets to cover blockchain network fees. National Banks Allowed To Manage Crypto In a letter released on Tuesday, the OCC stated that banks are permitted […]
Related News
An unknown wallet benefited from Bitcoin's low-fee blockchain yesterday with a transaction worth $2 bill. Block data from Blockchain.com reveals that a colossal Bitcoin (BTC) transaction worth $2 billion was processed on Monday night. Despite the enormous financial value, the unknown wallet holder only paid 0.00001713 BTC fees equivalent to 78 cents. Although it is unknown what the purpose of this transfer was, or indeed which individual or entity enacted it, what has clearly been showcased is the enormous potential of financial transactions utilizing cryptocurrency and blockchain....
Despite being considered extremely expensive, the Ethereum blockchain has remained one of the top networks in the dynamic world of cryptocurrencies. However, the leading blockchain has undergone a major shift as its overall transaction fees plummeted significantly to levels not seen in years. Total Transaction Fees At The Lowest Level In Years While the crypto […]
A look at why gas fees can be so expensive and the different ways platforms and users are tackling the high costs. High transaction fees have been a long recurring issue for users on popular blockchain networks like Ethereum and Bitcoin during periods of increased demand. However, there are protocols, platforms and methods that help users to reduce costs.What are transaction fees?Transaction fees are fees that users pay to send a transaction or interact with a smart contract on a blockchain network. While gas fees can refer to transaction fees on any blockchain, the term is mainly used to....
Ethereum still boasts one of the highest transaction volumes in the crypto space but recently, the blockchain has been seeing a decline in its transaction fees. The fees decline significantly which has been a welcome development for users of the network. However, this decline has sparked concerns regarding what types of effects it could have […]
The increasing amounts of Bitcoin transactions have slowly led to an increase in Bitcoin fees as miners favor the transactions with fees as priority transactions. This means that it can take a longer time for a Bitcoin transaction to clear. Some transactions, small ones without fees generally, can be lost to the Bitcoin ether, only to be returned to sender a few day later. Transaction fees have been touted as one of the best reasons to use Bitcoin. The world’s first truly international value transfer system boasts the lowest transaction fees. Though these fees have been quietly rising over....