Various banking troops operating in the United States have conveyed their concerns about giving a national bank license to crypto currency -related organizations. These troops emphasized the possible risks that may occur in the financial system and asked the regulators to approach this issue again. Especially Ripple 
$3.47 And if crypto -based companies such as Circle gained a national authority with national authority, attention was drawn to the results that may arise. So he went to the biden mentality again did not end again.
Crypto Banking License
Applications for the banking license of crypto financial institutions have recently been the subject of discussion in the American financial world. The troops pointed out that the opening of bank licenses recognized at national level to these companies may cause instability in financial markets. This development causes uncertainties for both the traditional banking sector and crypto companies. At least the opinion of the banking units complaining about the situation is in this direction.
Experts say that the ease of banking to crypto companies can increase the diversity of commercial competition and financial products. However, it is stated that the market risk may increase if this situation is not regulated sufficiently. These companies will have the potential to access extensive financial services with the National Banking License.
Risks and concerns
The main anxiety expressed by the troops focuses on the fact that consumer protection mechanisms are not sufficient and financial transparency. It is underlined that strict regulations that traditional banks have to comply with should be applied in the same way in crypto organizations. In addition, increasing controls to prevent potential problems that affect the financial system are among the demands.
American Banking Association: “Risks on crypto companies may not be completely predictable and the current regulatory framework needs to be developed.”
Federal regulators, on the other hand, state that they make assessments by taking into account the differences between traditional banks and new generation financial institutions. The US has taken significant steps in this regard, for example, the last approved GENIUS law brings with it extensive rules, control, restrictions for stablecoin issuances.
Companies’ Answers and Process
Crypto asset firms such as Ripple and Circle emphasize financial innovation in their national bank license applications and explain that they want to make such an attempt in order to expand new kinds of financial services.
Ripple: uz We are determined to act in accordance with the law and desire a transparent financial environment. ”
While the public continues discussions on the role of crypto organizations in the financial market and consumer rights, the decision of the regulatory authorities on the issue seems to be important for the future of the sector. In the current process, the process of implementation of GENIUS in order to reduce risks and improve the element of trust may reduce the concerns of banking troops.
The national licensing process of financial institutions in the US concerns not only crypto companies, but also the entire financial sector. In addition to the contribution of innovative financial services to the economy, the importance of a solid audit infrastructure and transparency in regulatory processes should be increased. The demands of the banking associations and the search for innovation of companies can determine the speed of transformation in the financial world.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
