Banks Are Shifting Quickly to Crypto as New Rules Loom

Banks are racing to embrace cryptocurrencies, triggered by pending legislation in Washington that could set off the biggest shift toward crypto yet in the traditional financial system.

Banks and the companies whose technology underpins much of the finance industry say the shift could become clear as soon as this summer, when banks’ business customers would be allowed to pay overseas suppliers with stablecoins and consumers would be able to use them for purchases.