The Wall Street Journal reported on May 18, Coinbase which is a major U.S. cryptocurrency exchange and wallet, addressed regulators about getting a government managing banking charter. Coinbase reported earlier this week that they are planning to launch a new line of products which targeted institutional investors like hedge funds. As the WSJ calls attention to, a government banking permit would enable Coinbase to offer its own particular guardianship and payment services using an OCC limited-purpose charter, additionally helping the organization pull in more institutional clients. It would likewise enable Coinbase to manage just a single federal controller, rather than a huge number of state ones, moreover offering clients governmentally safeguarded financial balances. Amid the hearing, Lempres alluded to the present US administrative framework for cryptocurrencies as “hurting sound development”, because of an absence of clarity.

Source: Wall Street Journal May 20, 2018 09:33 UTC