Banking and Crypto: Regulation Policy Issues
The Role of Bank Institutions in the Regulation of Cryptocurrency
Cryptocurrency was originally designed as an alternative to traditional banking and financial services. However, in the past decade, banks have expressed interest in offering services related to cryptocurrencies and other digital assets. Some crypto firms have sought bank or special depository charters at the federal and state levels. This overlap has presented policymakers with a challenge in deciding whether and how crypto fits into the traditional bank regulatory regime. Members of Congress have diverse views on crypto, with some viewing crypto as a new technology with great potential that should be fostered and others wary of the risks posed to…
