⚖️ Crypto Regulations Under Pressure in the U.S.
🚨 Major U.S. banking groups — including the American Bankers Association, America’s Credit Unions, CBA, ICBA, and NBA — are pushing the OCC to delay crypto bank charter approvals for firms like:
🟢 Circle (USDC)
💧 Ripple (XRP)
🔐 Fidelity Digital Assets
🔍 Why the Pushback?
Applications lack detail for proper evaluation 📑
Business models don’t align with traditional trust bank roles 🏦
Granting charters could invite non-bank firms into the system with limited oversight ⚠️
⚡ Key Concerns:
Ripple’s request for a Fed master account (stablecoin reserves + 24/7 transactions)
Circle’s USDC custody & reserve plans
Possible risks to financial stability if rules aren’t clear
🌐 Bigger Picture:
Comes as U.S. regulators under Trump push to modernize digital asset policies
Banking lobby resistance highlights tension between TradFi vs. Crypto 🔥
#Crypto #Regulation #USDC #Ripple #Bitcoin #Ethereum
