[BitGo Receives Conditional Approval to Transition into a Banking Institution] BlockBeats News, December 13, according to The Wall Street Journal, cryptocurrency custody firm BitGo announced that it has received conditional approval from the U.S. Office of the Comptroller of the Currency to transition into a banking institution. Upon receiving final approval, BitGo will convert its South Dakota-registered trust company into a federally chartered national trust bank, enabling it to custody digital assets and certain non-deposit financial assets, as well as provide regulated cryptocurrency-related services without requiring state-by-state approval.