Major U.S. banks, including State Street, BNY Mellon, and Citigroup, are exploring or expanding their digital asset custody services, taking advantage of the regulatory ease offered under the Trump administration. While full-scale crypto trading is still challenging due to regulatory hurdles, banks are focusing on providing custody services for institutional investors. However, these banks still face significant regulatory requirements from the Federal Reserve and the New York Department of Financial Services. In the meantime, there is increasing collaboration between traditional finance and the digital asset industry, as major crypto firms like Coinbase are in talks with banks to offer custody and trading services.



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