Coinbase considering applying for US bank license
Coinbase is considering applying for a US federal bank charter, although no formal decision has been made. This follows reports that several major crypto firms, including Circle, Paxos, and BitGo, are also exploring banking licenses. A bank charter could enable these firms to operate similarly to traditional banks, allowing them to take deposits and issue loans, but would subject them to stricter regulatory oversight. The US government is showing a softer stance on crypto regulation, with recent legislative efforts like the STABLE Act and the GENIUS Act addressing stablecoin regulation. The STABLE Act emphasizes federal oversight and includes a moratorium on certain collateralized stablecoins, while the GENIUS Act aims for a more flexible regulatory approach and enhances AML safeguards.
