American Banker quoted Andrew Bigart and Chris Boone on how the changing digital asset arena is impacting banks. According to the article, the current administration has set out to “build a more welcoming environment for digital-asset players to access financial services."
American Banker also reported that legislators across the aisle are still conflicted on whether past tension was caused by institutions or by the regulators themselves.
“Digital-asset experts from law firms like Freshfields and Venable LLP say the steps to building such a foundation require increased regulatory clarity and an understanding of the role banks could play in the crypto landscape,” wrote American Banker.
“Defining the scope of the cryptocurrency industry and trying to determine where and how it could fit within the banking system has long been a challenge for regulators,” explained Bigart and Boone.
Click here to access the article.