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16min chapter
BTC202: Bitcoin Mastermind 3rd Quarter 2024 w Joe Carlasare, Jeff Ross, and America Hodl (Bitcoin Podcast)
We Study Billionaires - The Investor’s Podcast Network
The Regulatory Landscape of Crypto Custody
This chapter explores the ramifications of Staff Accounting Bulletin 121 on banks' ability to custody Bitcoin and digital assets, highlighting the need for significant cash reserves and the risk weighting assigned to these assets under Basel III. The narrative also addresses BNY Mellon's exemption from regulations, the rise and fall of Silvergate Bank within the crypto landscape, and the implications for the future of banking practices in light of emerging stablecoin models. The conversation raises critical questions about fairness in regulation, the challenges of obtaining Federal Reserve master accounts, and the potential shift towards fully reserved banking systems amidst evolving financial dynamics.
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