In the United States, cryptocurrency companies are evolving towards the most integrated with traditional finances by seeking banking licenses and preparing potential regulations on the stablescoin. Circle and Bitgo are among the companies working on requests for American banking charters. Coinbase and Paxos would have explored similar steps. These efforts arise as the Congress debates new laws which would impose more strict rules on stable issuers, aimed at regulating the management of these digital tokens caught in dollars.
Bitgo requests a complete banking charter, which would allow it to offer services such as deposits and loans. The company is also involved in USD1, a stablecoin supported by World Liberty Financial, which is supported by members of the Trump family. Bitgo is responsible for keeping the USD1 reserves. Circle also intensifies its lobbying efforts, in particular because large banks like Bank of America are trying to influence future legislation to promote traditional institutions to non -banking stabbling issuers. Bank of America has expressed interest in launching his own stablecoin if the regulations allow.
Two main bills are currently underway. The stable law, supported by the Republicans, adopted the Chamber’s Financial Services Committee and proposes federal surveillance for stable issuers, separating reserve funds from the company’s other assets and imposing a two -year ban on certain algorithmic staboins. In the Senate, the law on engineering has gained ground, calling for federal and state regulatory frameworks while obliging stable issuers to follow anti-flowage rules and liquidity standards. This bill would deal with stable issuers as financial institutions under the Bank Secrecy Act, obliging them to report a suspicious activity and to verify customers.
These developments arise as the US government seems more open to cryptographic companies under the administration of President Trump. Previous restrictions on banks working with cryptographic companies have been loosened. The Federal Reserve plans to publish new directives on banking activity linked to the crypto later this year. The president of the Fed, Jerome Powell, expressed her support for the establishment of clear legal guidelines for the stablescoins, highlighting their growing use in the broader economy.
Digital Anchorage remains the only cryptographic enterprise with a federal banking charter. It is mainly intended for institutional customers and is involved in loan initiatives as a loan supported by Bitcoin of $ 2 billion involving Cantor Fitzgerald and Copper. However, the company is also the subject of a survey by the Ministry of Homeland Security.
While some traditional banks, such as US Bancorp and Bank of America, develop cryptography services through partnerships, others remain skeptical. International banks such as Deutsche Bank and Standard Chartered look closely at developments by considering penetrating the American cryptos market.
The Stablecoins, in particular Tether and the USD part of Circle, remain essential to the cryptographic ecosystem, widely used for payments and trading. As progress in regulations, cryptographic companies are preparing to comply with higher standards and access more in -depth access to the financial system.
