Charles Schwab is one of the largest banks in the United States. The banking giant has hinted at joining the cryptocurrency world, but only on some conditions. As more and more companies and institutions have started to take part in the trading of cryptocurrency, the crypto community has never seen a greater level of excitement than it has now. While some have blindly adopted the ecosystem, others are looking to seek a much regulatory side of the trading of these digital assets before committing to it. The same case is with the banking giant Charles Schwab, which has stated that it is interested in joining the crypto space, but only one specific condition that needs to be clarified when it comes to the regulation of such precious assets.
“We need more Clarity,” says Walt Bettinger
According to reports, the CEO of Charles Schwab, Walt Bettinger, stated that the company is studying the market and is indeed looking into a way of getting into the crypto space, but the company will not commit until and unless there is some clarity shown, regarding the regulations enforced on the digital assets market. Charles CEO said that once the company is assured and cleared on the regulations, it will definitely strike a move into becoming a player in the crypto market, giving its users and customers the opportunity to trade with crypto.
The company has had a history with crypto, previously regarding it as “speculative experimental instruments,” which was a very obvious note, seeing the small market that it had compared to the traditional market, but now, the enormous growth of the crypto market has surely changed the minds of many.
Good news for the Market
When it comes to the crypto market, regulatory clarity is the way forward in order to gain the trust of new companies and institutions who are looking for a way to implement crypto payment options for users, traders, and investors.
On a positive note, during the senate hearing conducted last month, the new Chairman of the US SEC, Gary Gensler, gave importance to the existence of the crypto space and said that he is working with his colleagues to promote this new trading method, also making sure that it is properly monitored and regulated to ensure protection for all users. If things proceed forward, we will eventually see a big rise in the adoption of cryptocurrencies in the future.