Insiders: Many cryptocurrency companies such as Circle and BitGo plan to apply for banking licenses According to sources familiar with the matter, many cryptocurrency companies including Circle and BitGo are planning to apply for banking licenses or permits. Others say that cryptocurrency exchange Coinbase Global and stablecoin company Paxos are also considering similar initiatives. At the same time, the Trump administration is taking action to incorporate cryptocurrencies into mainstream finance, and Congress has proposed two bills that will establish a regulatory framework for stablecoins, allowing people to easily buy and sell more volatile cryptocurrencies. This legislation will require stablecoin issuers to obtain a charter or license from regulatory authorities.