US Banking Associations Oppose License For Crypto Custody Firms – Details

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Several US banking associations have pushed against the issuance of a banking license to crypto custody firms, citing a need for public input in such a change in industry policy, among other reasons. This development comes as the cryptocurrency industry continues to gain more recognition in the US following a wave of encouraging policies signed by US President Donald Trump. Crypto Custody Not Fiduciary Duty, Doesn’t Warrant Bank Status: US Banks On July 17, five banking associations including th...