02:50 PM EST, 02/04/2025 (MT Newswires) -- (Updates with Coinbase's statement in the second and third paragraphs.)

Coinbase Global ( COIN ) is requesting US banking regulators to amend or clarify their positions to permit banks to offer custody and trading execution services for cryptocurrencies and allow them to partner with the company, media reports said Tuesday, citing a letter the company sent to the Office of the Comptroller of the Currency, the Federal Reserve and the Federal Deposit Insurance Corp.

"Coinbase is taking an important step towards ending the debanking of crypto by calling on the OCC, the Federal Reserve and the FDIC to make clear that banks can engage in crypto activity and support the crypto community," Chief Policy Officer Faryar Shirzad said on X.

"For the last several years, US bank regulators have unilaterally and undemocratically barred banks from offering crypto services. This needs to end," Shirzad added.

COIN shares were up 1.1% in recent trading.

Price: 286.47, Change: +2.06, Percent Change: +0.72