US Regulators Weigh Avenues for Banks to Hold Crypto: Report

US Regulators Weigh Avenues for Banks to Hold Crypto: Report
A team of U.S. bank regulators is devising ways in which banks may hold crypto on their balance sheets, provide custody and facilitate client trading.In an interview with Reuters reported Monday, Jelena McWilliams, chair of the Federal Deposit Insurance Corp. (FDIC), said banks needed to be allowed to get involved with crypto.“If we don’t bring this activity inside the banks, it is going to develop outside of the banks,” McWilliams said. “The federal regulators won’t be able to regulate it.”The FDIC is one of the federal banking regulators in the U.S. and one of two entities that provide deposit insurance…