U.S. Crypto Regulations This Week: Banks Get the Green Light to Custody Crypto Before Major Voting

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Ah, the grand circus of American politics, where votes are as frequent as air, and the crypto world is caught in the crossfire. This week, U.S. lawmakers are gearing up for votes on crypto-related bills, and the stakes are higher than your grandma’s secret pie recipe.

In a dramatic twist of fate, the House of Representatives will decide the future of the market structure bill, as well as the GENIUS Act. If the GENIUS Act somehow manages to pass without any alterations—because who needs change, right?—it will be sent straight to President Donald Trump’s desk for a royal signature. Meanwhile, other bills addressing the crypto market structure and CBDC will be hurled back to the Senate for a final round of “lively discussion.”

Banks: Your Crypto Guardian Angels

And now for the pièce de résistance: The Federal Reserve and friends have decided that banks can now safely hold your precious crypto, like a trustworthy babysitter watching over your most prized possessions. On Monday, the Federal Deposit Insurance Corporation, the Federal Reserve Board, and the Office of the Comptroller of the Currency issued a statement that banks can now play the role of crypto custodian. How touching! And, naturally, they must still follow every existing regulation, because we wouldn’t want them to have too much fun.

According to the official statement, banks now have permission to safeguard crypto assets, such as Bitcoin, in either a fiduciary or non-fiduciary capacity. Because why not? And, of course, they must comply with all those lovely regulations that make everything so… interesting.

“Banking organizations may provide safekeeping for crypto-assets in a fiduciary or a non-fiduciary capacity. Banking organizations that provide crypto-asset safekeeping in a fiduciary capacity must comply with 12 CFR 9 or 150, as applicable, state laws and regulations, and any other applicable legal provisions, such as the instrument that created the fiduciary relationship,” the agencies said. Yawn.

The Market: More Drama Than a Soap Opera

And what does this all mean for the market? Well, the crypto market is doing its best to look optimistic, fueled by institutional investors who are treating Bitcoin like a shiny new toy. According to TD Cowen, the investment banking arm of TD Securities (because nothing says trust like a bank name), Bitcoin could reach a dazzling $155,000 by December 2025. But of course, there’s the dark side—if Bitcoin’s price keeps falling through the floor like an old elevator, we might see it sink to a “mere” $55,000. A real nail-biter, isn’t it?

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2025-07-14 23:17