#CryptoNewss The guidance initially stated that cryptocurrencies could pose risks to the safety and soundness of the U.S. financial system, consumer protection, and financial stability. "Certain types of crypto assets, such as stablecoins, could also pose risks to financial stability if adopted at scale, including the potential for bank runs and payment system disruptions."

The withdrawal is the first major move by the Fed against cryptocurrency activity during the Trump administration, which has taken several initiatives aimed at making the U.S. more cryptocurrency-friendly and supportive of innovation