Crypto Firms Still Struggle to Gain Access to Banks

Even as crypto firms are able to raise billions in capital they are still largely shut out of the banking system as most banks view their business models as a big regulatory risk; Robby Houben, a lawyer and professor at the University of Antwerp, explains to American banker, “I have met some really stand-up people in crypto that don’t deserve such a bad reputation and want the sector to be regulated, yet for every one of those, there are plenty of others trying to scam the public, launder money or evade taxes.”; some smaller banks like Silvergate Bank have started to fill the void left by big banks but they can only serve so much of the market; until there is regulatory clarity the struggle will continue for emerging crypto firms. Source.

Todd is the Chief Product Officer of LendIt Fintech.

He is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists.

He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences.

He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

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