š£ Fed Pulls Back on Crypto RestrictionsāBanks Cleared for Takeoff
Big shift from the U.S. Federal Reserve: itās rescinded previous guidance that discouraged banks from engaging in crypto and stablecoin activities.
š¹ 2022 crypto activity pre-reporting rule? Gone.
š¹ 2023 stablecoin supervision framework? Also gone.
š¹ Banks will now be monitored through normal supervisory channels, just like any other activity.
This marks a coordinated move with the FDIC and OCC, as they also rolled back old statements warning against crypto exposure.
š£ļø Fed: āWeāre open to supporting innovationāincluding crypto.ā
š Michael Saylor: āBanks are now free to begin supporting Bitcoin.ā
TL;DR:
Traditional banks just got the greenlight. The Fedās foot is off the brake. Crypto rails are officially open.
#EthereumFuture #BinanceAlphaAlert #BTCvsMarkets #dinnerwithtrump #CryptoMarketCapBackTo$3T