The SEC has previously warned investors from participating in dubious schemes which show any cryptocurrency ties.
VersaBank will offer a highly secured and privacy driven VersaVault to safely store one’s digital asset holdings.
Other banks from the KSA also will be implementing the Ripple’s xCurrent blockchain-based payments solution.
Litecoin now contributes around 30 percent of the dark web transactions done in cryptocurrencies.
With a lack of auditing of the account books of Tether, there is growing suspicion on the use of its USDT tokens.
The government is not seriously considering a crypto ban but says will strengthen its stand to eliminate the use of crypto in illicit financial activities.
The report praises the Blockchain technology and says that cryptos can play a crucial role in the diversification of equity and bond policies.
To explain interested people about the new project the company will hold an information session in nine different cities.
The patent seeks to have a flexible blockchain system that can implement new changes without the need of getting consensus from all nodes present on the network.
The rules will comprise of proper guidelines for sale, promotion and distribution of digital tokens.