Charles Schwab says it will enter the crypto market once regulators provide greater regulatory clarity

American financial giant Charles Schwab will enter the cryptocurrency industry once regulators provide greater regulatory clarity. This was stated by the company’s chief executive, Walt Bettinger, according to Reuters.

According to him, Charles Schwab is looking at the digital assets market \”very carefully\” and \”cautiously\”.

\”We would like to see more regulatory clarity. And if that happens, Schwab will become a player in this space […] If the company enters the cryptocurrency market, it will be competitive, groundbreaking and client-focused,\” Bettinger said.

In 2019, Charles Schwab’s managing director of corporate communications Rob Farmer ruled out the possibility of direct cryptocurrency trading, calling them a \”speculative instrument\”.

Subsequently, the financial giant acquired the Bitcoin-friendly broker TD Ameritrade. The deal was worth $26 billion.

Earlier in October 2020, Charles Schwab diversified its portfolio with shares of the mining company Riot Blockchain, listed on Nasdaq.