In response to growing consumer demand for bitcoin and other cryptocurrency-related services, an increasing number of banks in the United States under the umbrella of the Federal Deposit Insurance Corporation are exploring the digital currency space.
The trend reflects the interlinkage of crypto assets and associated products and services with the regulated financial system.
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More US Banks Are Drawn To Bitcoin
The Office of Inspector General, an independent office within many US government agencies, published a report on February 17, indicating the growing involvement of banks in the digital assets industry.
The report also calls for proper guidelines for lenders under the FDIC mandate, emphasizing the need to ensure that their policies and procedures consider the risks associated with digital assets, especially regarding deposit insurance.
