US Bancorp has again returned to Bitcoin’s caution after returning to the SEC rule under Trump
The US Bancorp has re -recorded the crypto space by repairing the digital careful careing services aimed at institutional investment managers.
US Bancorp reentry complies with a regulatory transfer under the current administration of President Donald Trump, which rolls back to a previous SEC Rule This forced the banks to touch the capital on their balance sheet for crypto -associated activities, According to In a Wednesday’s Wednesday report.
“We have a playbook and it’s kind of opening it and implementing it again,” said Stephen Philipson, head of the US bank’s institutional division. He noted that the bank’s plan to measure the service as the demand increased and also explored how digital assets could fit in other areas such as wealth management and consumer payment.
The Minneapolis-based bank, the fifth largest commercial bank in the US, first launched its conservation service in 2021 in collaboration with the fintech firm Nydig, before it stopped due to the guide of the SEC. By the rule recorded, the US Bancorp continues with a modified push.
Related: Federal agencies outlined major dangers for banks looking at crypto keeping
US Bancorp to Offer Bitcoin Caution for Funds
US Bancorp will first provide careful services for Bitcoin (Btc), starts with registered investment funds and those who provide bitcoin ETF. The bank said it could be expanded to include other cryptocurrencies that meet internal risk and compliance standards.
The crypto custody service space is led by crypto-native companies such as Coinbase, BitGo and Anchorage Digital. However, changes to federal guidance, especially from the currency comptroller office, now provide banks with more room to operate.
In 2022, BNY Mellon Launched a Digital Plain Platform To protect the Select Institutional Clients of Bitcoin and Ether (Eth) Holdings, making America’s oldest bank the first big bank in the country to offer the care of digital assets.
Related: Binance Taps Spain’s BBVA to offer safer Crypto Custody Post-Fitx: FT
Many more banks are pushing for crypto keeping
Meanwhile, a growing number of traditional financial institutions are moving to crypto protection.
In July, Germany’s largest bank, Deutsche Bank, announced plans to Allow its clients to store cryptocurrencies including bitcoin next year. The bank plans to launch a digital conservation service in 2026 in collaboration with the Austria-based crypto-based crypto-based crypto technology unit.
In August it was reported that Citigroup was Weighing plans to offer cryptocurrency keeping and payment services, aimed at achieving a market strengthened by the approval of the Trump period regulation and Pro-Industrial Law.
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