Rain became the twelfth crypto firm to seek a national trust bank charter, per CoinDesk, while the Independent Community Bankers of America is suing the OCC, saying such charters hand crypto companies banking privileges without a bank's obligations. $USDC issuer Circle already holds one.
Who has the better argument?
A) Crypto firms: custody and stablecoin reserves deserve federal supervision
B) Community banks: no bank privileges without bank duties
C) Both: give charters, but add capital and reporting rules to match
đŹ Drop your pick below.
#Regulation #Stablecoins
Who has the better argument?
A) Crypto firms: custody and stablecoin reserves deserve federal supervision
B) Community banks: no bank privileges without bank duties
C) Both: give charters, but add capital and reporting rules to match
đŹ Drop your pick below.
#Regulation #Stablecoins