Did Powell suddenly relent? Don't be too quick to celebrate!
The Federal Reserve has just thrown out a "big gift": crypto banks no longer need to report in advance, the process for issuing stablecoins has been simplified, and the restrictions on exposure to crypto assets have also been relaxed.
But the old foxes in Washington aren't buying it at all—Lummis and Long, these political veterans, directly hit back: "It's just a show! They haven't really made any substantial changes!"
Ironically, just when Trump publicly supported Powell and quelled rumors of a "leadership change," the doubts only grew louder. Critics mock that this is merely a concession under pressure, and we are still far from true industry liberation.
Do you understand now? The Federal Reserve's sugar-coated shell is not fooling anyone in the knife-edge world of Washington. The spring for crypto banks? Ha, it hasn't even arrived yet.
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