Circle executive denies claims of seeking US banking license

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The story "Circle executive denies claims of seeking US banking license" was covered 15 hours ago by Coin Telegraph, a news publisher based in United States.

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Coin Telegraph 15h ago

Circle executive denies claims of seeking US banking license - Coin Telegraph

Quick Summary:

Instead, he explained that Circle intends to comply with future US regulatory requirements for payment stablecoins, “which may require registering for a federal or state trust charter or other nonbank license.” He also urged lawmakers to reach regulatory clarity for stablecoins sooner rather than later.

An executive at major stablecoin issuer Circle denied recent reports that the company is looking to obtain a US federal bank charter.

Source: Dante DisparteThe statement follows recent reports that major cryptocurrency firms, including stablecoin issuer Circle and crypto custodian BitGo, are reportedly considering applying for bank charters or licenses.