【Breaking News】The Federal Reserve Ends Specific Regulatory Program for Bank Cryptocurrency Activities, Resumes Regular Regulatory Framework

Today, the Federal Reserve announced that it will terminate the previous specific regulatory program for banks engaging in cryptocurrency-related activities. In the future, new business models involving cryptocurrencies and financial technology will return to the normal regulatory processes and approval paths.

According to the Federal Reserve's explanation, this move is based on in-depth research and assessment of banks' business models, risk exposures, and risk management practices in the cryptocurrency and financial technology sectors. Regulators believe that banks' experience and internal controls in this field have matured sufficiently to be effectively managed under the existing regulatory framework.

Industry analysts point out that this shift may clear some policy obstacles for cooperation between banks and the cryptocurrency industry, and it is expected to encourage more traditional financial institutions to engage in digital asset businesses, while also indicating that regulation and innovation will enter a new phase of balance.