There have news about Mica regulations in Europe Crypto market. Even we have seen many updates about USDT delisting on exchanges because of the non compliance that tether don't have. I was not aware of this before this news update and this is why reading is helpful. USDT is still not impacted because they might be either in process to get compliant or may be there is some delay. While this is still in progress some good update is here coming from standard chartered bank.
Standard chartered Bank is a leading bank and they have got the licence to provide cryptocurrency custody services in Luxembourg. This is a good news for cryptocurrency users in Luxembourg region as now they will be able to user custody services offered by this reliable bank.
British multinational financial giant Standard Chartered has launched a new entity in Luxembourg to offer crypto custody services to European Union clients as the E.U. implements the Markets in Crypto Assets
Its crucial to trust the name that is more reliable and because standard chartered is a big ang reliable name so there should not be any problems.
Its good that now the bank is involved in cryptocurrency segment which is good sign. It may also encourage more banks to come forward and provide similar services. More banks getting involved with crypto is good for the Crypto community. Now EU people would be happy to use their custody services.
This news is shared on 8th Jan by the bank that they have won the license to provide cryptocurrency custody services in Luxembourg. Let's see if more banks also join the trend and try to get licence to be able to offer crypto custody services in the region.