Feds Charge NYC Man With Hacking Decentralized Crypto Exchange And Stealing 9 Million In First Of Its Kind CaseWhile European banks are making significant strides in offering bitcoin custody services, U.S. banks are grappling with regulatory challenges.
, the involvement of U.S. households in crypto-assets rose sharply during the COVID-19 pandemic, with almost 15 percent of individuals conducting transfers into crypto accounts as of mid-2022.bitcoin Monthly report for June 2023 provides further insight into this trend. It highlights that approximately 70% of the circulating bitcoin supply has remained unmoved for at least one year, indicating strong support from long-term holders.
on Gen Z and Investing reveals a significant generational shift in investment preferences. It states that 17% of Gen Z, those born between 1997 and 2012, are already investing in cryptocurrencies, compared to just 9% of Millennials, those born between 1981 and 1996. This growing interest among younger generations is likely to fuel the demand for crypto custody services, adding pressure on U.S. banks to overcome regulatory challenges and meet the evolving needs of their customers.
However, the race is far from over. The future will be shaped not only by the ability to offer these services but also by the capacity to adapt to an evolving regulatory landscape and meet the demands of an increasingly crypto-savvy customer base. As such, the success in this race will be determined by adaptability, resilience, and a clear understanding of the complexities of the crypto world.
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