Update
Crypto Custodians Gain Regulatory Relief for Derivatives Settlements
Crypto companies are moving into the financial services traditionally dominated by banks, seeking a role in US derivatives settlements. The Commodity Futures Trading Commission (CFTC) has granted regulatory relief allowing derivatives clearinghouses to use trust companies for daily settlements with clearing members, a function previously restricted to banks. This move could create new business opportunities for regulated crypto custodians, though its revocable nature and changes in the US political landscape raise questions about the durability of the regulatory opening.