Hello guys, I hope you all doing well!

According to Eleanor Terrett, Mike Ring, CEO of Old Glory Bank, alleged that regulatory authorities such as the FDIC and SEC collaborated to restrict banks operating as cryptocurrency custodians, utilizing directives 'FIL-16-2022' and 'SAB 121' to reduce demand for deposit services.

This statement emphasizes potential regulatory hazards in the cryptocurrency banking sector that traders should be aware of.Cryptocurrency that holds big volume in market like BTC & ETH are the first choice for that kinds of banks while that kind of news could be a red signal for crypto holders and users. 

Technology like blockchain can be used as a transparent medium between govt and people on their spending on welfare and other initiatives, but people at power understand that point far before we do and trying everything to end this rather than working for people.

What's you take on this? Drop your comments below. 

If you like this article, please give it a thumbs up. If you want more awesome content, consider a following.

*Every tip is appreciated always.*

Follow me on : Instagram,Twitter, Read.cash                                                                        My Crypto Referrals : Binance, Kucoin

That's for today guys, see you soon. Thanks for reading.