Regulatory Changes Push Crypto Firms Toward Banking Licenses
Several U.S. digital asset firms, including stablecoin issuers Circle and Paxos, as well as Coinbase and Bitgo, are exploring the possibility of applying for bank charters or licenses.
This move comes as the Trump administration’s more crypto-friendly policies encourage such efforts. With key crypto advocates appointed to regulatory positions, including SEC chairman Paul Atkins, these firms are looking to take advantage of a clearer regulatory framework. While acquiring a bank charter would integrate crypto firms more closely with traditional banking, it also brings increased scrutiny and compliance costs, as seen with Anchorage Digital.
Clever Robot News Desk 22th April 2025
