The irony of the century is that digital asset and crypto businesses, which were conceived out of a deep disdain for governments and banks, now want to become banks regulated by the government. And the White House and federal regulators are welcoming them. The first digital national bank was approved in 2021, and five crypto firms received conditional approval to operate non-deposit-taking national trust charters in 2025. Since then, more than a dozen digital asset companies have filed applications to form some sort of national bank charter. And last month, the Federal Reserve awarded Kraken Financial, a ... (full story)