The Crypto industry is facing an ongoing battle with banking institutions and the battle continues to this day. Some of the biggest issues the industry has come across in terms of banking involve the lack of access to banking and financial services as well as obstacles related to regulatory uncertainty. Operation Choke Point 2.0, is believed to be an alleged coordinated effort by the U.S. administration to cut the crypto industry off from the banking system, hurting legitimate companies like Caitlin Long's Custodia Bank. The SEC's efforts to address this issue have been compared with chemotherapy for the fight against cancer.

Financial institutions such as Fortress Trust Company have been trying to keep up with the regulations set forth by Congress, but this has become increasingly difficult with the growing number of regulations in the crypto industry. It has been suggested that trust companies may be the best solution for now, as they can offer many of the services that banks can provide, such as interest and foreign exchange services, without having to maintain crypto assets on the balance sheet. This would also help to avoid a single point of failure.

The difficulties between the crypto industry and banking institutions have been going on for years now and it doesn't seem like they'll be ending anytime soon. While the SEC is attempting to address the issue, companies like Custodia Bank still seem to be at the losing end of the stick. Since there is still much uncertainty surrounding the banking of crypto assets, it remains unclear what type of solution can be found in the near future. In the mean-time, trust companies may be the best option for the crypto industry in terms of providing the necessary banking and financial services.



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