Mar 18, 12:28 PM

SmartBiz Becomes First Fintech Firm to Gain Bank Approval as Crypto Companies Seek Charters Under Trump

Under the Trump administration, there has been a notable increase in applications from cryptocurrency and fintech companies seeking national bank charters. Reports indicate that these firms are looking to expand their operational scope and gain legitimacy in the financial sector, driven by a favorable regulatory environment. The surge in applications aligns with Trump's return to the White House, which has coincided with a rally in cryptocurrencies, as businesses anticipate looser regulations. Notably, SmartBiz recently became the first financial-technology firm to receive regulatory approval to operate as a bank since Trump took office, further highlighting this trend. The push for banking licenses reflects a broader shift towards greater transparency and operational legitimacy for crypto firms in the current regulatory landscape.

#Trump #White House #SmartBiz

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