| operations |
| comment | | "parent_author":"",<br>"parent_permlink":"life",<br>"author":"bchainjournal",<br>"permlink":"circle-is-seeking-a-banking-license-in-the-us",<br>"title":"CIRCLE IS SEEKING A BANKING LICENSE IN THE US",<br>"body":"<html>\n<p><img src=\"https:\/\/i0.wp.com\/the-blockchain-journal.com\/wp-content\/uploads\/2018\/06\/paper-3261159_1920.jpg?resize=700%2C532&ssl=1\" width=\"700\" height=\"532\"\/><\/p>\n<p> <strong>Circle Internet Financial Ltd. is seeking a banking license in the US,<br> reported<\/strong> <a href=\"https:\/\/www.coindesk.com\/crypto-startup-circle-seek-banking-license-us\/\"><strong>Coindesk<\/strong><\/a> <strong>on June 6.<\/strong><\/p>\n<p>Circle is currently offering various services,<br> including a cryptocurrency wallet and investment platform,<br> and an OTC crypto trading service. With this move,<br> the Goldman Sachs-backed firm want a banking license in the US as well as registering with the Securities and Exchange Commission (SEC) as a brokerage and trading platform.<\/p>\n<p>If the SEC accepts Circle and it is granted a banking license,<br> the startup would be allowed to trade cryptocurrency tokens that are securities in the US. It would also be helpful for the company to avoid the complexities of registering as a cryptocurrency firm with regulators in all the US states.<\/p>\n<p>\u201cYou\u2019re able to have a single conversation,<br>\u201d Robert Bench,<br> Circle\u2019s chief compliance officer,<br> mentioned. \u201cIt\u2019s hard to have 50 conversations.\u201d<\/p>\n<p>Circle expressed that it would seek SEC regulations first and that it would apply afterward for the banking license.<\/p>\n<p>Circle\u2019s CEO,<br> Jeremy Allaire expressed,<br><\/p>\n<blockquote>\u201cTo hold reserves with the Federal Reserve,<br> \u2026 to directly settle with other banks in other markets around the world through those networks \u2013 that can improve the efficiency of what we deliver,<br> it can reduce the costs.\u201d<\/blockquote>\n<p>He also mentioned that the firm would also help regulators with the regulatory frameworks for cryptocurrency as Wall Street giants are starting slowly to adopt it.<\/p>\n<p>Circle has <a href=\"https:\/\/the-blockchain-journal.com\/2018\/02\/26\/circle-acquires-poloniex-exchange\/\">acquired<\/a> Poloniex exchange near the end of last February. In March,<br> BitLicense allowed Circle to established in 46 US states.<\/p>\n<p>\u201cWith no minimums,<br> instant deposits,<br> no commissions on a variety of coins,<br> performance tracking and more \u2014 we\u2019ve made it fast,<br> cheap and simple to invest in crypto and digital assets,<br> and we are only just getting started,<br>\u201d Allaire said at the time.<\/p>\n<p>Recently,<br> Circle has <a href=\"https:\/\/the-blockchain-journal.com\/2018\/05\/16\/circle-raises-110-million-in-investment-round-for-a-token-backed-by-u-s-dollar\/\">raised<\/a> $110 million in an investment round for a token backed by the US dollar and has<a href=\"https:\/\/the-blockchain-journal.com\/2018\/05\/23\/circle-launches-the-full-version-of-its-cryptocurrency-app\/\"> launched<\/a> the full version of its cryptocurrency app. <\/p>\n<\/html>",<br>"json_metadata":" \"tags\":[\"life\",<br>\"bitcoin\",<br>\"cryptocurrency\",<br>\"steemit\",<br>\"vincentb\" ,<br>\"image\":[\"https:\/\/i0.wp.com\/the-blockchain-journal.com\/wp-content\/uploads\/2018\/06\/paper-3261159_1920.jpg?resize=700%2C532&ssl=1\" ,<br>\"links\":[\"https:\/\/www.coindesk.com\/crypto-startup-circle-seek-banking-license-us\/\",<br>\"https:\/\/the-blockchain-journal.com\/2018\/02\/26\/circle-acquires-poloniex-exchange\/\",<br>\"https:\/\/the-blockchain-journal.com\/2018\/05\/16\/circle-raises-110-million-in-investment-round-for-a-token-backed-by-u-s-dollar\/\",<br>\"https:\/\/the-blockchain-journal.com\/2018\/05\/23\/circle-launches-the-full-version-of-its-cryptocurrency-app\/\" ,<br>\"app\":\"steemit\/0.1\",<br>\"format\":\"html\" " | | comment_options | "author":"bchainjournal",
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