Digital assets Ripple, Circle, and Fidelity are among six crypto companies competing for a US banking charter, reflecting a shift towards regulatory alignment. The 2025 Genius Act establishes rules for stablecoins, requiring a 1:1 reserve, compliance, and approval for issuance. This paves the way for traditional banking integration and signals a push towards mainstream legitimacy. 🏦💼
The move highlights industry efforts to legitimize crypto. Companies like JPMorgan are adopting blockchain solutions, while the emphasis on transparency prompts compliance measures. Stablecoins are seen as crucial for real-time transactions and treasury optimization, with political and institutional support growing. Regulatory clarity may boost adoption but could clash with existing DEFI models. 🚀💰
https://altcoin.observer/six-crypto-companies-compete-for-the-charter-of-the-american-bank-under-the-2025-engineering-act/
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