What Banks Can Do With Cryptocurrency?

Until this interpretive letter, it remained a little bit unclear what normal banks could do. No bank was going to try to provide custody services without getting express approval from the regulators. The smaller national banks will need to go through a full regulatory review before they can do this. And it's unfortunate, because those who are concerned about the power of the big banks, this is one of one of the ways that the rules work in their favor,.