The news: Last month, the Office of the Comptroller of the Currency (OCC) and the Securities and Exchange Commission (SEC) both removed regulatory hurdles that prevented some banks from participating in crypto. And recently, the Federal Deposit Insurance Corporation (FDIC) clarified that FDIC-supervised institutions may engage in permissible crypto-related activities without receiving prior approval from the regulator. 

Ripple effects: These regulatory changes have given some banks the clarity they needed to venture into digital currencies. For example, Fidelity Investments introduced a new Crypto IRA, allowing direct investments in Bitcoin, Ether, and Litecoin, per PYMNTS.

Its customers can access Roth, traditional, and rollover IRAs with this offering, and will be charged 1% of the execution price of buying and selling crypto. The purpose of this plan is to give customers a tax-advantaged way to invest in crypto assets.