Crypto custody a bit(coin) closer after US accounting U-turn
Federal banking supervisors expected to eventually relax regimes for safeguarding digital assets
Fresh accounting guidance from the US markets regulator has removed a barrier to banks offering crypto custody services. Now, lawyers expect prudential regulators also to take action to unlock bank custody of digital assets – particularly given the new US administration’s avowed support of the crypto industry.
The issue of crypto safety has now “really been kicked” to the banking regulators, says Steven Lofchie, partner at Norton Rose Fulbright US. “Do they act to discourage the banks from
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