In response to growing consumer demand for bitcoin and other cryptocurrency-related services, an increasing number of banks in the United States under the umbrella of the Federal Deposit Insurance Corporation are exploring the digital currency space.
The trend reflects the interlinkage of crypto assets and associated products and services with the regulated financial system.
According to data by the FDIC, as of January 2023, about 52 million Americans have invested in bitcoin and various types of crypto assets, and 136 banks were planning or already involved in various crypto-related initiatives.
More US Banks Are Drawn To Bitcoin
The Office of Inspector General, an independent office within many US government agencies, published a report on February 17, indicating the growing involvement of banks in the digital assets industry.
The report also calls for proper guidelines for lenders under the FDIC mandate, emphasizing the need to ensure that their policies and procedures consider the
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