OpenReserve Clears Hurdle in US Banking Approval
OpenReserve, a blockchain bank, has received initial approval from the U.S. banking agency to operate. This development is significant for the company, which aims to provide financial services using blockchain technology.
The news comes as LCX AG, a Liechtenstein-based exchange, continues its application for authorisation as a crypto-asset service provider under MiCA (EU 2023/1114). The Financial Market Authority (FMA) Liechtenstein is currently reviewing the application.
LCX AG has emphasized that it does not offer crypto-asset services to persons in the EEA pending authorisation, and existing clients are limited to withdrawals during the wind-down period. This suggests a cautious approach to regulation, acknowledging the risks associated with crypto-assets.