Ripple and Circle are applying for national trust bank charters, indicating a strong entry into the banking system. This strategic move aims to enhance their legitimacy within the US financial landscape.
Kraken is skipping the traditional banking charter process, opting instead to launch debit and credit cards directly. They focus on providing crypto tools and services while avoiding full banking status.
The proposed Genius Act aims to regulate stablecoins, requiring them to be backed by US Treasuries. This could further integrate stablecoins into the US financial market, attracting more investment.
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