PANews reported on April 21 that according to Jinshi, citing the Wall Street Journal, two years ago, regulators cracked down on cryptocurrencies after the collapse of FTX and two cryptocurrency-friendly banks, prompting some traditional financial institutions to part ways with the industry. Now, Trump's promise to make the United States a "bitcoin superpower" has laid the foundation for cryptocurrencies to be more closely intertwined with the banking system. According to people familiar with the matter, many crypto companies, including Circle and BitGo, plan to apply for banking charters or licenses. Others said that cryptocurrency exchange Coinbase Global and stablecoin company Paxos are also considering similar moves. At the same time, the Trump administration is taking action to bring cryptocurrencies into mainstream finance, and Congress has also proposed two bills that will establish a regulatory framework for stablecoins, allowing people to easily buy and sell more volatile cryptocurrencies. The legislation will require stablecoin issuers to obtain a charter or license from regulators.