Jack Dorsey’s Block seeks US trust bank charter for Bitcoin, stablecoin

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Block, led by Jack Dorsey, is seeking a U.S. trust bank charter to support its Bitcoin and stablecoin operations. The charter would allow the company to custody digital assets and potentially issue or manage stablecoins under a regulated banking framework, without operating as a traditional deposit-taking bank. If approved, the move could strengthen Block’s compliance posture and expand institutional access to Bitcoin-related services, while increasing regulatory scrutiny of its crypto activities.

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