Last year we began the process of making changes to our Savings Accounts for U.S. clients due to regulatory developments.These changes began with the conversion of Savings Accounts that were opened by U.S. clients prior to April 4, 2022 into “Legacy Savings Accounts” that continued to allow for interest to be earned on existing BTC and/or USDC balances but prohibited new BTC and/or USDC from being deposited into such accounts.
Due to further regulatory developments, all BTC and/or USDC balances in Legacy Savings Accounts will no longer earn interest as of March 1, 2023, and as of such date, all U.S. client assets held in such accounts will be held by Ledn in cold storage at Ledn’s third party custodian.