Bitcoin News
By Evie Vavasseur
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Why US Bancorp Paused Its Crypto Program. Back in 2021, US Bancorp partnered with fintech firm NYDIG to launch crypto custody services.
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Regulatory Changes Open the Door. The turning point came earlier this year after U.S. President Donald Trump issued an executive…
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What US Bancorp Is Offering Now. According to the bank’s announcement, its Bitcoin custody services are initially being rolled out…
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Future Expansion Plans. While Bitcoin remains the focus, US Bancorp is actively exploring whether custody services can…
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A Growing Trend Among Big Banks. US Bancorp is not alone in its renewed interest in crypto.
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Regulatory Agencies Push for Clarity. In a joint statement earlier this week, the SEC and the Commodity Futures Trading Commission…
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What This Means for the Crypto Market. The relaunch of Bitcoin custody by US Bancorp is a strong indicator that banks believe digital…
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US Bancorp has officially restarted its Bitcoin custody services for institutional investment managers, ending a pause that lasted more than three years.
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However, in early 2022, the program was put on hold after the U.S. Securities and Exchange Commission (SEC) issued Staff Accounting Bulletin No. 121 (SAB 121).
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Without a clear framework, US Bancorp—and many other financial institutions—chose to suspend digital asset services until conditions improved.
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The turning point came earlier this year after U.S. President Donald Trump issued an executive order aimed at “Strengthening American Leadership in Digital Financial Technology.”
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This directive led to several key changes:
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The SEC withdrew SAB 121, removing the heavy balance sheet requirement.
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The Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve eliminated the “reputational risk” assessment for…
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The SEC and CFTC jointly clarified that registered exchanges could legally facilitate certain spot crypto transactions.
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