U.S. Banks Poised to Enter Crypto Services

Under President Trump's administration, U.S. banks may soon be permitted to offer cryptocurrency services, marking a departure from previous regulatory stances.

Regulators are expected to revise guidelines to facilitate banks' cryptocurrency activities without excessive hurdles.

Banks are keen to enter the lucrative crypto market, evidenced by their interest in providing custody services and developing tokenized deposits, which could potentially lower costs and expedite payments.

This shift could lead to banks competing with established crypto firms like Coinbase and Robinhood, significantly altering the financial landscape.