[U.S. Bank Restarts Bitcoin Custody Services After Years of Suspension] Financial service giant U.S. Bank announced on Wednesday that it will provide Bitcoin custody services for institutional investment managers of registered or private sale funds, including support for Bitcoin-based exchange-traded funds (ETFs).
Bank of America stated in 2021 that it would provide custody services for Bitcoin, Litecoin, Bitcoin Cash, Ethereum, and other altcoins, but then suspended the service in 2022 due to the release of the U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin No. 121 (SAB 121), which prevented banks from custodian digital assets.
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Bank of America resumes Bitcoin custody services after a suspension of several years.
[U.S. Bank Restarts Bitcoin Custody Services After Years of Suspension] Financial service giant U.S. Bank announced on Wednesday that it will provide Bitcoin custody services for institutional investment managers of registered or private sale funds, including support for Bitcoin-based exchange-traded funds (ETFs). Bank of America stated in 2021 that it would provide custody services for Bitcoin, Litecoin, Bitcoin Cash, Ethereum, and other altcoins, but then suspended the service in 2022 due to the release of the U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin No. 121 (SAB 121), which prevented banks from custodian digital assets.