Circle and BitGo plan to apply for a banking license soon, while Coinbase Global and Paxos are also considering similar moves.

BlockBeats News, April 21st. According to WSJ report, two years ago, following the collapse of two crypto-friendly banks after the FTX incident, regulators cracked down on cryptocurrency, prompting some traditional financial institutions to part ways with the industry. Now, Trump has pledged to make the U.S. a "Bitcoin superpower," laying the foundation for a closer integration of cryptocurrency and the banking system.

According to sources familiar with the matter, many crypto companies, including Circle and BitGo, plan to apply for banking charters or licenses. Others say that cryptocurrency exchange Coinbase Global and stablecoin company Paxos are also considering similar moves. Meanwhile, the Trump administration is taking steps to mainstream cryptocurrency, and Congress has introduced two bills to establish a regulatory framework for stablecoins, making it easier for people to buy and sell more volatile cryptocurrencies. The legislation will require stablecoin issuers to obtain a charter or license from regulators. (Golden Finance)