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US banks must seek regulatory permission before engaging in certain crypto activities – regulator By Reuters


© Reuters. FILE PHOTO: Representations of Bitcoin and different cryptocurrencies on a display displaying binary codes are seen via a magnifying glass on this illustration image taken September 27, 2021. REUTERS/Florence Lo/Illustration

WASHINGTON (Reuters) – A significant US banking regulator clarified on Tuesday that banks should search and procure written permission from their financial institution supervisors earlier than participating in sure actions involving cryptocurrency.

The Workplace of the Comptroller of the Forex mentioned banks should be capable of show they’ve applicable danger administration instruments earlier than taking over actions like offering custody providers for patrons’ crypto holdings.

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Abhishek Tiwari
Abhishek Tiwari is the Author & Founder of the He is passionate about Blogging & Digital Marketing.

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