Banks eye deposit gains as multi-bank model for crypto exchanges resurfaces
Prices of cryptocurrencies such as Bitcoin are displayed on an electronic board at Upbit’s customer service center in Seoul’s Gangnam District, Jan. 14. Yonhap
Banks are pinning their hopes on regulatory easing as discussions resurface over loosening rules that limit cryptocurrency exchanges to partnering with only one bank for deposit and withdrawal accounts, industry officials said Tuesday.
Banks tied to smaller cryptocurrency exchanges are particularly hopeful, as allowing multiple banking partners per exchange could help boost demand deposit balances and attract new customers.
The existing framework has drawn criticism for applying a uniform regulation that overlooks differences in scale and business models among exchanges,…
