Banking Giants to explore the expansion of encryption in the United States: Report

Modern reports claim that the encryption companies and financial giants are looking to expand their operations in the American market after the Trump administration’s efforts to regulate the digital asset industry and integrate them into the prevailing financing.
Curd and banks to expand US operations
On Monday, The Wall Street Journal (WSJ) I mentioned The encryption industry is “deeper into the banking system”, as many companies plan to apply for banking charters or licenses, including Circle and BITGO, according to WSJ sources.
The news media outlet claims that Coinbase and Paxos are studying similar moves. At the same time, some companies whose name has not been revealed is concerned with national confidence or industrial bank covenants that allow them to work, such as traditional lenders, submit loans and take deposits.
According to what is reported, other encryption companies seek to obtain specific licenses for the issuance of Stablecoins, with the unknown legislation in Congress. It is worth noting that the companies that provide their application and obtain the bank charter will be subject to the most stringent organizational supervision.
On the other hand, the report also confirmed that traditional financial giants, including Deutsche Bank and Standard Chartered, are working to “catch up with their knees and relationships” with the encryption industry by reviewing their approach to the sector.
According to the sources mentioned by WSJ, a group of banks began exploring ways to expand encryption operations in the United States after the new -friendly manufacturers’ transformations of the “Implementation” strategy.
Although the details of the alleged plans are not disclosed, the report indicates that other banks remain cautious. Keycorp CEO, Chris Georman, who sees the potential opportunity in the encryption space but wants to assess how he developed with “organizational challenges”, such as the anti -money laundering guarantees (AML).
Traditional institutions await American legislation
Other bankers have recently expressed their desire to expand the encryption industry. In January, Branica CEO, Brian Moinhan, confirmed that the American banking industry is ready to embrace encryption payments.
According to the CEO, the banks “will come strongly” for encryption as soon as the organizers are allowed and a clear organizational framework is created. “If the rules come and make something real that you can actually deal with, you will find that the banking system will come hard on the side of the transactions from it,” he said.
Moinhan later confirmed that the Bank of America will issue Stablecoin if the legal framework is created. Since he took office on January 20, the Trump administration has significantly transformed the organizational approach to the previous government.
The Securities and Stock Exchange Committee (SEC) has dropped or has stopped most of its main enforcement cases. Moreover, American lawmakers have suggested many policies dealing with many encryption topics, including strategic bitcoin reserves (SBR) and the organization of Stablecoin.
In February, American Senator Bill Hajari presented the guidance and creation of the national innovation of the US Stablecoins (genius law) to develop a frame to allow symbols such as USDT and USDC to decrease under federal reserve rules.
The legislation aims to create a “safe and supportive organizational framework that will unleash innovation and enhance the president’s mission to make America the global coding capital.”
Bitcoin (BTC) trades at $88,201 in the one-week chart. Source: BTCUSDT on TradingView
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