{"id":45622,"date":"2025-09-04T03:01:34","date_gmt":"2025-09-04T03:01:34","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=45622"},"modified":"2025-09-04T03:01:34","modified_gmt":"2025-09-04T03:01:34","slug":"us-bancorp-resumes-bitcoin-custody-services-after-three-year-pause-details","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=45622","title":{"rendered":"US Bancorp Resumes Bitcoin Custody Services After Three-Year Pause \u2013 Details"},"content":{"rendered":"
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US Bancorp is relaunching its Bitcoin (BTC) custody services for institutional investment managers following recent regulatory developments in the US.<\/p>\n

US Bancorp Resumes Bitcoin Custody For Fund Managers<\/h2>\n

On Wednesday, US Bancorp announced<\/a> that it has relaunched its offering of crypto custody services after more than three years, following the removal of a Biden-era guidance that prevented financial institutions from providing these services.<\/p>\n

US Bank\u2019s crypto custody service was originally announced in 2021 in partnership with fintech company NYDIG. However, the program was paused in early 2022 after the US Securities and Exchange Commission (SEC) released Staff Accounting Bulletin No. 121 (SAB 121), which required custodians to hold capital on the balance sheet for these activities.<\/p>\n

The rule was rescinded earlier this year, following the US President Donald Trump\u2019s executive order for \u201cStrengthening American Leadership In Digital Financial Technology.\u201d Since then, the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve have also removed<\/a> the \u201creputational risk\u201d examination from supervisory guidelines.<\/p>\n

Stephen Philipson, head of wealth, corporate, commercial, and institutional banking at US Bank, affirmed that \u201cfollowing greater regulatory clarity, we\u2019ve expanded our offering to include bitcoin ETFs, which allows us to provide full-service solutions for managers seeking custody and administration services.\u201d<\/p>\n

According to the announcement, the bank will now offer its Bitcoin custody services as an early access program to Global Fund Services clients, intended for institutional investment managers \u201cwith registered or private funds who seek a secure safekeeping solution for bitcoin.\u201d<\/p>\n

\u201cWe had the playbook, and it\u2019s sort of opening it up and executing it again,\u201d Philipson said<\/a>, adding that they will likely scale more broadly after assessing demand and marketplace development.<\/p>\n

The bank is reportedly exploring how the use cases of crypto and stablecoins may fit into its wealth, payments, and consumer banking requirements. Additionally, the financial institution will also consider offering custody services for additional cryptocurrencies if they meet the bank\u2019s standards.<\/p>\n

Similarly, Citigroup is exploring<\/a> plans to offer crypto custody and payment services. The bank is also studying custody offerings for crypto-linked exchange-traded products, which could include Bitcoin exchange-traded funds (ETFs).<\/p>\n

US Regulatory Shift Continues<\/h2>\n

US regulators have also announced new efforts to continue the Trump administration\u2019s efforts to make America \u201cthe crypto capital of the world.\u201d On Tuesday, the SEC and the Commodity Futures Trading Commission (CFTC) issued a joint statement clarifying their views on spot crypto trading in the US.<\/p>\n

According to the statement<\/a>, the regulators view that SEC and CFTC-registered exchanges are not prohibited from facilitating the trading of certain spot commodity products under existing law, setting the stage for\u00a0traditional financial venues to offer these products.<\/p>\n

The regulatory agencies noted that they are ready to engage with market participants, support consideration by their respective agencies, and address related questions.<\/p>\n

CFTC Acting<\/a> Chairman Caroline D. Pham stated that \u201cunder the prior administration, our agencies sent mixed signals about regulation and compliance in digital asset markets, but the message was clear: innovation was not welcome. That chapter is over.\u201d<\/p>\n

Meanwhile, SEC Chairman Paul Atkins affirmed that \u201cmarket participants should have the freedom to choose where they trade spot crypto assets,\u201d adding that \u201cthe SEC is committed to working with the CFTC to ensure that our regulatory frameworks support innovation and competition in these rapidly evolving markets.\u201d<\/p>\n

\"bitcoin,<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

US Bancorp is relaunching its Bitcoin (BTC) custody services for institutional investment managers following recent regulatory developments in the US. US Bancorp Resumes Bitcoin Custody For Fund Managers On Wednesday, US Bancorp announced that it has relaunched its offering of crypto custody services after more than three years, following the removal of a Biden-era guidance […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-45622","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/45622","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=45622"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/45622\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=45622"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=45622"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=45622"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}