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A regulatory crackdown on crypto in the wake of the meltdown of FTX and two crypto-friendly banks prompted some in traditional finance to break up with the industry two years ago. Now President Trump’s pledge to make America a “bitcoin superpower” has set the stage for crypto to become more intertwined with the banking system.
“It has not been easy,” said Nathan McCauley, chief executive officer of Anchorage, which obtained its charter in 2021. But he said the “whole gamut of regulatory and compliance obligations that banks have can be intertwined with the crypto industry.”
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