Home -
Brokers -
Main body -

WikiFX Express

EC markets
Exness
TMGM
XM
FXTM
FOREX.com
AVATRADE
IC Markets Global
FXCM
GMI

U.S. REGULATOR MANDATES BANKS TO APPLY FOR PERMISSION BEFORE DEALING WITH CRYPTO ACTIVITIES

LexaTrade | 2022-02-18 14:39

Abstract:U.S. banks are required to acquire written permission from their bank supervisors before engaging in certain activities that involve cryptocurrency, a key regulator stated on Tuesday.

030d05fc-ea47-497d-b22c-b822e721fad6.jpg

U.S. banks are required to acquire written permission from their bank supervisors before engaging in certain activities that involve cryptocurrency, a key regulator stated on Tuesday.

The Office of the Comptroller of the Currency said banks must show that they possess appropriate risk management tools before getting involved in activities like providing custody services for clients crypto holdings.

In a statement, acting Comptroller Michael Hsu said that “Because many of these technologies and products present novel risks, banks must be able to demonstrate that they have appropriate risk management systems and controls in place to conduct them safely.”

The regulators new position raised the bar for banks considering certain crypto activities.

The new interpretive letter prohibits banks from engaging in several crypto-related activities, such as providing custody for crypto assets, without giving their bank supervisors prior notice of their intent to partake in such activities.

Supervisors will then assess the banks risk management tools and systems before deciding whether or not to allow the bank to proceed with the activity.

BrokerDealer

Related broker

No Regulation
LexaTrade
Company name:Swissone Group Ltd
Score
1.52
Website:https://lexatrade.com/
5-10 years | Suspicious Regulatory License | Suspicious biz area | High potential risk
Score
1.52

Read more

FP Markets Marks 20 Years of Global Trading

FP Markets celebrates 20 years of innovation, global expansion, and award-winning service, reinforcing its role as a trusted multi-asset broker.

Original 2025-12-29 17:27

GivTrade Secures UAE SCA Category 5 Licence

GivTrade gains UAE SCA Category 5 licence, enabling advisory, arrangement, and consulting services under strict regulatory oversight.

Original 2025-12-29 17:21

Is 9X markets Legit or a Scam? 5 Key Questions Answered (2025)

You are likely here because you are considering trading with 9X markets, but their very recent launch date has you worried about the safety of your funds. You are right to be cautious.

Original 2025-12-29 15:18

MYFX Markets Review (2025): Is it Safe or a Scam?

If you are considering depositing funds with MYFX Markets, you need to pause and read this safety review immediately. While many brokers operate with high standards of transparency, our analysis of the data suggests MYFX Markets poses significant risks to retail investors.

Original 2025-12-26 19:00

WikiFX Express

EC markets
Exness
TMGM
XM
FXTM
FOREX.com
AVATRADE
IC Markets Global
FXCM
GMI

WikiFX Broker

FXTM

FXTM

Regulated
ATFX

ATFX

Regulated
XM

XM

Regulated
eightcap

eightcap

Regulated
EBC

EBC

Regulated
GTCFX

GTCFX

Regulated
FXTM

FXTM

Regulated
ATFX

ATFX

Regulated
XM

XM

Regulated
eightcap

eightcap

Regulated
EBC

EBC

Regulated
GTCFX

GTCFX

Regulated

WikiFX Broker

FXTM

FXTM

Regulated
ATFX

ATFX

Regulated
XM

XM

Regulated
eightcap

eightcap

Regulated
EBC

EBC

Regulated
GTCFX

GTCFX

Regulated
FXTM

FXTM

Regulated
ATFX

ATFX

Regulated
XM

XM

Regulated
eightcap

eightcap

Regulated
EBC

EBC

Regulated
GTCFX

GTCFX

Regulated

Latest News

Stop Chasing Headlines: The Truth About "News Trading" for Beginners

WikiFX
2025-12-27 14:00

Why Markets Pump When the News Dumps: The "Bad Is Good" Trap

WikiFX
2025-12-28 01:00

Yen in Peril: Wall Street Eyes 160 as Structural Outflows Persist

WikiFX
2025-12-29 10:43

RM238,000 Lost to a Fake Stock Scheme | Don't Be The Next Victim!

WikiFX
2025-12-29 15:30

What Is a Forex Expert Advisor and How Does It Work?

WikiFX
2025-12-29 17:59

Common Questions About GLOBAL GOLD & CURRENCY CORPORATION: Safety, Fees, and Risks (2025)

WikiFX
2025-12-28 14:00

Is 9X markets Legit or a Scam? 5 Key Questions Answered (2025)

WikiFX
2025-12-29 15:18

What Is a Liquid Broker and How Does It Work?

WikiFX
2025-12-29 17:39

“Elites’ View in Arab Region” Event Successfully Concludes

WikiFX
2025-12-29 17:47

Commodities Wrap: Copper Surges on ‘Green Squeeze’ Fears; Oil Dips on Peace Hopes

WikiFX
2025-12-29 20:30

Rate Calc

USD
CNY
Current Rate: 0

Amount

USD

Available

CNY
Calculate

You may also like

ELITE BROKER

ELITE BROKER

ADMANT STONE

ADMANT STONE

TRADE2WEALTHINVESTMENT

TRADE2WEALTHINVESTMENT

MTC Way

MTC Way

APOGEE PATH TRADE

APOGEE PATH TRADE

Golden world stock

Golden world stock

CBCX

CBCX

Gold Mach Investment

Gold Mach Investment

SPECTRUM TRADERS

SPECTRUM TRADERS

WEALTH LIMITED

WEALTH LIMITED