Crypto would be increasingly integrated into the conventional banking system, according to the Wall Street Journal. This offset occurs after regulatory repression This followed the failure of the Crypto Exchange FTX and its consequences for many cryptographic user -friendly institutions have caused many members of the conventional financial sector to withdraw their market support from digital assets.
But now, with Trump’s recent wish to make America a “bitcoin superpower”, things could start to change, depending on the report, and greater integration between the crypto and the conventional bank could be on the horizon.
Push for consumerly public cryptographic finance
Several cryptographic companies, including Circle and Bitgo, are would have plans to ask for bank charters or licenses. In particular, Coinbase Global and the company Stablecoin Paxos also envisage similar steps.
As reported By Bitcoiniste, the Trump administration aims at traditional cryptographic finances, as such, Congress increases legislation that would create a regulatory framework for stablecoins.
These proposed regulations would require stablecoin issuers that they obtain charters or licenses from regulators, a decision that could fundamentally modify the operational dynamics of the digital asset market.
A lot cabinets Explore options for national trust or industrial banking charters, which would allow them to operate in a similar way to conventional banks by accepting deposits and making loans. Others would pursue more specialized licenses that would allow them to issue stabbed.
Political climate change
Any company that secures a banking charter will face stricter surveillance, a reality that has been clearly illustrated by digital anchoration, the only digital asset company in the United States to hold a federal banking charter.
The CEO Nathan McCauley, told Wall Street Journal that the company had invested tens of millions of dollars to meet regulatory obligationswhich include strict anti-money laundering measures.
The recent anchorage partnership with major financial players, including Blackrock and Cantor Fitzgerald, underlines the growing acceptance of digital assets within consumer finance.
Barely a few years ago, large banks broke up links with cryptographic companies in the midst of a wave of regulatory examination after the FTX incident. The fallout from the collapse of Silvergate Capital and Signature Bank have left many cryptographic entrepreneurs who find it difficult to find banking partners ready to accept their deposits or grant loans.
However, the political climate changes and under the administration of Trump, the regulators began to relax the restrictions which previously required that banks obtain the approval of the activities related to the crypto. New advice on how banks can get involved with the crypto are scheduled for later this year.
Some banks are impatient to catch up and establish partnerships in cryptographic space. For example, the CEO of Bank of America, Brian Moynihan, expressed his interest in emitting a stablecoin, subject to a solid legal framework.
Likewise, US Bancorp recently announced its intention to relaunch its digital assets police custody Service in collaboration with Nydig, a trading and Bitcoin bank company.
Conversely, some banks remain cautious. The CEO of Keycorp, Chris Gorman, recognized the potential risks posed by digital assets, considering them as an opportunity and a competitive threat.
Gorman stressed the importance of understanding the evolution of the regulatory landscape, in particular concerning the guarantees of money laundering.
Dall-e star image, tradingView.com graphic
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