PAXOS AIMS FOR NATIONAL BANK CHARTER

Summary from the TLDR Crypto newsletter

Paxos is applying for a national trust bank charter with the OCC, joining Ripple and Circle in seeking federal oversight as the GENIUS Act reshapes stablecoin regulation. The issuer of PayPal USD and Pax Dollar says the move will reinforce its commitment to safety and transparency, but comes just a week after settling with NYDFS over past AML and due diligence lapses tied to its Binance partnership.