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Stock impact report

Fintech and Crypto Firms Seek Bank Charters Under Trump Administration: Reuters [Yahoo! Finance]

S&P Global Inc. (SPGI) 
Last s&p global inc. earnings: 4/28 07:10 am Check Earnings Report
US:NYSE Investor Relations: stocktwits.com/symbol/s
Company Research Source: Yahoo! Finance
Trump administration as industry executives report a notable uptick in charter discussions and applications, Reuters reports "We have seen a lot more interest. We are working on several applications now," Alexandra Steinberg Barrage, a partner at law firm Troutman Pepper Locke, told Reuters. However, firms are being “cautiously optimistic” as regulatory agency leadership changes unfold. Becoming a bank brings stricter regulatory oversight, but it can reduce borrowing costs and enhance legitimacy. Bank charters allow firms to lower their cost of capital by accepting deposits, yet accessing these is a major point of contention in the crypto community. Various cryptocurrency firms have, over time, resisted becoming banks over the regulatory oversight associated with the move, choosing instead to follow the industry's ethos to further decentralize and improve access to financial services to unbanked or underbanked individuals. Cryptocurrency firms, including Paxos Anchorage , and Show less Read more
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