Charles Schwab, the giant financial firm, is waiting for clearer crypto regulations before jumping into the spot crypto trading market. This means they’ll let clients directly buy and sell cryptocurrencies like Bitcoin and Ethereum.
Waiting for the Green Light
According to Bloomberg, incoming CEO Rick Wurster said Schwab is preparing to offer spot crypto trading once US regulations become more crypto-friendly. He stated that they’re “getting ready” for a regulatory shift and will move into spot crypto when the time is right.
A More Crypto-Friendly Future?
The expectation is that the US regulatory landscape will become more supportive of cryptocurrencies. This belief is partly fueled by the past statements of political figures who have expressed support for the crypto industry.
Schwab’s Current Crypto Involvement
Schwab already offers some crypto exposure through crypto ETFs and futures trading. Adding spot trading would simply expand their offerings to compete with other financial firms.
CEO’s Personal Take
While Wurster himself hasn’t invested in crypto personally, he acknowledges its popularity and plans to support clients who want to invest in the space. He even admitted to feeling a bit left out by not having participated in the crypto boom.
Disclaimer: This information is for general knowledge only and is not financial advice. Always do your own research before making any investment decisions.
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