Coinbase secures a full federal trust charter, bringing more clarity to its crypto custody "This doesn't change much, right? Because becoming a national trust company is not the…
Original source excerpt
Coinbase secures a full federal trust charter, bringing more clarity to its crypto custody "This doesn't change much, right? Because becoming a national trust company is not the same as becoming a fu…
Coinbase secures a full federal trust charter, bringing more clarity to its crypto custody "This doesn't change much, right? Because becoming a national trust company is not the same as becoming a full bank that takes customer deposits and earns yield and does lending and all those things." "It does take Coinbase out from under the New York chartered custody business that they had before. This allows them more flexibility in how they custody assets, custody other people's assets, what they can do for backing stablecoins." "To be fair, Coinbase is already the custodian for the majority of the Bitcoin spot ETFs." "This is just changing how they're regulated and giving them a hell of a lot more clarity and stability moving into the future." "Great news to see that the bank regulators are still moving forward regardless of what happens in the political world."
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