Gu Yanxi: Driven by Regulation, Crypto Finance and Mainstream Finance in the U.S. Banking Industry Are Accelerating Integration

In the 2020 U.S. banking market, crypto digital finance and mainstream finance have begun an accelerated integration trend. This accelerating development trend of integration is largely the result of U.S. financial regulation. The U.S. banking system is a two-tier structure composed of federal and state levels. Banking institutions can be roughly divided into three categories. The most basic license is the Money Transmitter License (MTL). This license is issued by individual states. The threshold for obtaining this license can be very low. Institutions above MTL are trusts.