Ripple, Circle and Others Received Bank Approval.

Crypto Companies on the Path to Becoming Federal Banks

Circle, Ripple, Fidelity Digital Assets, BitGo, and Paxos have received conditional approval from the OCC (Office of the Comptroller of the Currency) to become federally chartered banks. This development paves the way for other crypto firms, such as Anchorage Digital, to also obtain federal bank charters.

Furthermore, many stablecoin issuers and crypto companies have applied for federal oversight following the enactment of the GENIUS Act. This situation is considered an important step in expanding the regulatory framework in the cryptocurrency sector and providing increased reliability.