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U.S banking regulators developing guidelines for institutional presence in crypto
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The United States Securities and Exchange Commission (SEC) has remained mostly tight-lipped about cryptocurrency regulations so far. However, banking regulators in the country are reportedly developing a clearer path for banks that are looking to deal in cryptocurrencies. This is being done in a bid to control the rapidly growing asset, before it gets out of hand and fully emerges into the mainstream.
In an interview with Reuters, The Federal Deposit Insurance Corporation’s (FDIC) Chair Jelen McWilliams revealed that a roadmap is being developed for financial institutions. This will include more robust guidelines on how cryptocurrencies can be held in custody. She said,
“I think that we need to allow banks in this space, while appropriately
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