Circle denied reports about plans to obtain a banking license in the U.S.

Circle's denial of plans for federal banking licenses signals a shift in its regulatory approach, prioritizing permissions for non-bank financial institutions and advocating for the regulation of stablecoins.-------------------------------------------------------------------------------------------
📝 Instead, they plan to comply with future requirements for payment stablecoins, which could involve registering as a trust or obtaining a license for non-bank entities.
😎 Meanwhile, Coinbase confirmed that it is exploring the possibility of acquiring a banking license.

.css-1iqe90x{box-sizing:border-box;margin:0;min-width:0;color:#EAECEF;}Circle's denial of plans for federal banking licenses signals a shift in its regulatory approach, prioritizing permissions for non-bank financial institutions and advocating for the regulation of stablecoins.

📝 Instead, they plan to comply with future requirements for payment stablecoins, which could involve registering as a trust or obtaining a license for non-bank entities.

😎 Meanwhile, Coinbase confirmed that it is exploring the possibility of acquiring a banking license.

Circle's denial of plans for federal banking licenses signals a shift in its regulatory approach, prioritizing permissions for non-bank financial institutions and advocating for the regulation of stablecoins.