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#稳定币 I just saw that major players like Circle and Ripple have received approval for a trust bank license from the US OCC. I'm a bit confused but also very excited? 😲
It sounds like "conditional approval" is an intermediate stage, and it will take another 6 to 12 months to actually obtain the final license, but this already indicates that the US attitude towards the crypto industry is improving. What I find most curious is—after these institutions get the license, they will be able to manage the reserve funds for stablecoins. Does this mean that stablecoins will become safer and easier for large institutions to trust?
I was quite unfamiliar with stablecoins before. I knew they could be used for trading and transfers, but I didn't realize there are so many regulatory and compliance issues behind them. It feels like this news signals that the crypto market will become more and more regulated? Can someone explain why this is especially important for stablecoins? Urgently seeking a simple explanation 🤔