Circle, the transmitter behind the USDC Stablecoin, firmly denied rumors suggesting that it plans to request an American banking license.
The director of the firm’s strategy, Dante Dissemble, said on social networks that Circle does not intend to become a bank or any other type of assured deposit institution.
Discrate underlined that the company focuses on alignment with future regulations on the payment floors. He added that Circle is ready to register as part of a state or federal trust charter or to operate via a non -banking license if necessary.
The declaration of disappearing against the reports in circulation suggesting that Circle and other large cryptography companies such as Coinbase were preparing to request banking licenses due to the favorable regulatory environment under President Donald Trump.
Speculations are not surprising, since there has been a significant change in the way in which American regulators approach the cryptography industry.
For the context, the federal reserve recently withdrawn the previous guidelines which limited the capacity of traditional banks to interact with digital assets, including dollars tokens.
The reversal is considered by many as a green light for a wider adoption of cryptography. Jason Karsh, a business manager at Blocks, praised the change, calling a significant step towards the crypto a practical part of daily finance.
Stablecoin legislation
Disquet suggested that the company focuses on assistance in the US Congress adopt legislation on stables supporting innovation while protecting consumers.
Distete said:
“We urge congress to adopt legislation on bipartite bipartisan payments now to defend American innovation, stability and safety of consumers.”
These comments arise as the American Congress debates two key bills to shape the future of the regulations of stablescoin in the country.
The first bill is the transparency and the responsibility of Stablecoin for a better law on the economy of the big book (stable), and it recently cleaned the Committee of Financial Services of the Chamber. The second, the law of guide and establishment of national innovation for stablescoins (engineering), also progresses in the legislative pipeline.
The bills offer new standards of liquidity, reserves and compliance with the anti-money laundering rules. Legislators hope that legislation will help maintain the global influence of the US dollar by strengthening confidence in stablecoin issuers in the United States.
