Circle’s chief strategy officer, Dante Disparte, has refuted claims that the company is pursuing a US federal bank charter. In a recent statement, Disparte clarified that Circle is not interested in applying for such a charter or seeking to acquire an insured depository institution. Instead, he emphasized the company’s commitment to adhering to forthcoming US regulatory standards regarding payment stablecoins, which might involve obtaining a federal or state trust charter or a similar non-bank license. This clarification comes amid speculation that several cryptocurrency firms, including Circle, BitGo, Coinbase, and Paxos, are exploring options for bank licenses. Despite a previous indication from Circle's CEO Jeremy Allaire about pursuing a bank charter in discussions with regulators back in April 2022, the current stance represents a shift in focus towards compliance with evolving regulations rather than active pursuit of a charter. Concurrently, US lawmakers are working on legislation aimed at defining the regulatory framework for stablecoins, which includes the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act and the GENIUS Act, indicating a significant regulatory push surrounding stablecoin operations in the country.

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