Circle and BITGO encryption companies are scheduled to follow US banking licenses, WSJ

According to what was reported, Crypto has become more integrated into the traditional banking system, according to the Wall Street Journal. This shift occurs yet Organizational This was followed by the failure of the Crypto Exchange FTX and its impact on many institutions in many institutions in the traditional financial sector to withdraw their support from the digital asset market.

But now, with Trump’s last pledge to make America a “bone bitcoin power”, things may begin to change, as the report claims, and it can be more integration between encryption and traditional banking services on the horizon.

Pay to finance the prevailing encryption

Many encryption companies, including Circle and BITGO, are It is said Planning to apply for banking covenants or licenses. It is worth noting that Coinbase Global and Stablecoin Paxos also study similar steps.

like I mentioned By the Bitcoin, the Trump administration aims to finance the prevailing encryption, in this way, the Congress enhances legislation that creates a regulatory framework for Stablecoins.

These proposed regulations from Stablecoin exporters will require obtaining covenants or licenses from the organizers, a step that can mainly change the operational dynamics of the digital asset market.

a lot Companies They explore options for national confidence or industrial banking covenants, which would allow them to work similar to traditional banks by accepting deposits and providing loans. Others are said to follow more specialized licenses that would enable them to release Stablecoins.

Changing the political climate

Any company that secures a more striking banking charter will face a fact that has been clearly clarified by Anchorage Digital, the only digital asset company in the United States that carries a charter of the Federal Bank.

CEO Nathan McCalli told the Wall Street Journal that the company had invested tens of millions of dollars to meet Organizational obligationsWhich includes strict measures to combat money laundering.

Anchorage’s recent partnership with the main financial players, including Blackrock and Cantor Fitzgerland, emphasizes the growing acceptance of digital assets in prevailing financing.

Just a few years ago, the main banks cut ties with encryption companies amid a wave of organizational audit after the FTX accident. The repercussions of the Silvergate Capital and Signature Bank have left many encrypted entrepreneurs who are struggling to find banking partners ready to accept their deposits or submit loans.

However, the political climate is turning, and under the Trump administration, the organizers began to relax the restrictions that were previously required for banks to obtain approval for encryption activities. New guidance on how banks expect encryption later this year.

Some banks are keen to catch up with knees and create partnerships within the encryption space. For example, the CEO of Bank of America, Brian Mounehan, expressed his interest in the Stablecoin version, depending on a strong legal framework.

Likewise, US Bancorp recently announced plans to restart its digital assets Sponsorship Service in cooperation with NYDIG, Bitcoin Trading and Banking Services.

On the contrary, some banks remain careful. Chris Gorman, CEO of Keycorp, has admitted the potential risks posed by digital assets, which she considers an opportunity and a competitive threat.

Gourman emphasized the importance of understanding the sophisticated organizational scene, especially with regard to the anti -circumvent guarantee.

Distinctive image from Dall-E, Chart from TradingView.com