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FDIC Chair: Regulators Working On Framework For Banks To Hold Crypto


Are you afraid that crypto is going to be banned in The U.S?

You can rest easy knowing that both The FDIC and large banking institutions are interested in a regulatory framework which will allow banks to hold cryptocurrencies.

This is excellent news for both the seasoned investor, as well as those looking to get in.

It’s still unclear as to what exactly these regulations will look like, but investors and financiers alike seem to be excited for what this move holds for the future of cryptocurrencies in The U.S.

With China essentially out of the picture when it comes to cryptocurrencies there is a huge opportunity for U.S. financial institutions to fill the void, and to capitalize.

Here’s what we currently know:

Crypto Potato reports:

The United States will aim for clear regulatory rules to enable banks and their customers to hold and operate with cryptocurrencies, said the FDIC chair, Jelena McWilliams.

As such, the positive developments coming from the world’s largest economy continue as the nation recently had its first Bitcoin Futures ETF.

Reuters quotes The FDIC chair:

“I think that we need to allow banks in this space, while appropriately managing and mitigating risk,” she said in an interview on the sidelines of a fintech conference.

“If we don’t bring this activity inside the banks, it is going to develop outside of the banks. … The federal regulators won’t be able to regulate it.”

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