🎉 U.S.: Regulatory easing boosts crypto expansion in the country

🎉 U.S.: Regulatory easing boosts crypto expansion in the country

Banks Standard Chartered and Deutsche Bank are exploring a larger presence in the U.S. cryptocurrency market.

➡️ The regulatory environment in the U.S. has begun to shift following initiatives such as the cryptocurrency and stablecoin bill and the potential creation of a national crypto strategic reserve, paving the way for greater convergence between traditional banking and digital assets.

➡️ A number of crypto firms are now seeking banking licenses, with BitGo, Coinbase, and Paxos among the frontrunners. Meanwhile, Circle is reportedly preparing for an IPO.

➡️ So far, the only platform with a U.S. banking license is Anchorage Digital, which operates as a bank and was selected as a custodian for BlackRock’s iShares Bitcoin Trust (IBIT), alongside Coinbase. However, obtaining its license in 2021 required a significant investment and rigorous regulatory processes.

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