Reported 3 months ago
On July 16, 2024, Taiwan's Financial Supervisory Commission announced that banks will be allowed to provide custody services for virtual currencies, prompting interest from various banks to participate. Crypto industry leaders view this as a significant breakthrough that could enhance user trust and investment willingness, while also symbolizing the potential for market expansion. However, they note that technical challenges remain to be addressed for successful implementation. Firms like HOYA BIT highlight that bank involvement could significantly boost market confidence by providing stringent risk management and compliance, leading to increased market liquidity and stability. The collaboration between banks and the crypto sector also offers opportunities for enhancing technology, operations, and talent development.
Source: YAHOO