Cryptocurrency exchange Coinbase is pressing US regulators to confirm that banks are free to provide services to crypto businesses. Coinbase sent a letter to the Office of the Comptroller of the Currency (OCC),

Coinbase Global on Tuesday renewed its call for U.S. banking regulators to clarify or revise their position on banks offering cryptocurrency services as well as potentially doing tie-ups with companies in the digital assets sector.

Coinbase's initiative to reinforce banking support for crypto custody and execution is significant, as the exchange provides custody services for numerous US Bitcoin exchange-traded funds, which began trading last year.

Coinbase Global Inc. is urging US banking regulators to clarify or amend their positions in order to allow banks to offer custody and trading execution services for cryptocurrencies as well as clear the path for them to partner with the likes of Coinbase.