US Bancorp is relaunching its Bitcoin (BTC) custody services for institutional investment managers following recent regulatory developments in the US.

US Bancorp Resumes Bitcoin Custody For Fund Managers

On Wednesday, US Bancorp announced that it has relaunched its offering of crypto custody services after more than three years, following the removal of a Biden-era guidance that prevented financial institutions from providing these services.

US Bank’s crypto custody service was originally announced in 2021 in partnership with fintech company NYDIG. However, the program was paused in early 2022 after the US Securities and Exchange Commission (SEC) released Staff Accounting Bulletin No. 121 (SAB 121), which required custodians to hold capital on the balance sheet for these activities.

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