Coinbase is apparently considering applying for a US banking license.

And apparently they're not alone.

Along with Coinbase, stablecoin issuers Circle and Paxos and crypto custodian BitGo are also considering applying.

Paxos is a step ahead, actually.

The US Office of Comptroller (not a typo) of the Currency already granted preliminary conditional approva for a US bank to Paxos all the way back in 2021.

In a way, this would go in the exact opposite direction as originally envisioned by Satoshi Nakamoto and early BTC adopters.

Crypto was designed to 'combat' traditional banking, not to merge with it.

But that's an illusory stance. In reality, you can't have appreciation of value without regulation.