Ripple’s Banking License Update: Attempted Blocking

Description

Ripple’s push to become a federally chartered crypto bank has hit resistance from some of the most powerful institutions in traditional finance. According to crypto analyst Paul Barron, the Bank Policy Institute (BPI), a lobbying group representing 42 of the largest U.S. banks, has taken steps to block Ripple’s banking license application, citing concerns over regulatory clarity and a rushed public review process. Barron described the development as a sign that Ripple has “banks on the ropes,” s...