📅 July 20, 2025 – By Binance Square News Desk
Two of crypto’s most recognized names — Ripple and Circle — are under increased regulatory scrutiny as they push for national banking licenses in the United States. But their ambitions are facing pushback from several powerful U.S. banking associations.
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⚠️ U.S. Banking Associations Push Back
In a coordinated effort, multiple U.S. banking industry bodies are urging federal regulators to reconsider granting national trust charters to #crypto -native institutions like Ripple and Circle. These charters would allow the companies to operate more like traditional banks — a move critics say comes with significant systemic risks.
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🔍 Concerns Raised by Traditional Finance
Key objections include:
Regulatory Transparency Gaps: Critics argue that crypto companies still operate in a gray area when it comes to financial disclosures and oversight.
Systemic Risk: Granting banking status to crypto firms could introduce volatility and fragility into the U.S. financial system.
Banking Standards: Questions remain over whether Ripple and Circle meet the robust compliance, liquidity, and risk management standards that traditional banks must uphold.
