Top US Banks Consider Crypto Expansion but Remain Cautious

Major US banks are discussing potential expansions into cryptocurrency services, according to industry sources. However, their approach remains cautious due to regulatory uncertainties. Banks are exploring pilot programs, partnerships, and limited trading options, but none want to be the first to fully commit.

The rescinding of the controversial SEC accounting rule SAB 121 has encouraged banks to reconsider crypto custody services. Despite this, traditional financial institutions are moving slowly, citing complexity and regulatory risks.