๐ฅ Urgent: The Federal Reserve Ends Its Program for Monitoring Bank Activities in Digital Currencies!
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๐ข What's New?
โ The Federal Reserve announced the termination of the "Novel Activities Supervision Program" that it launched in 2023.
โ The program was designed for the close monitoring of banks dealing with digital currencies and fintech technology.
โ Monitoring of these activities will now be integrated into the standard supervisory process of the central bank.
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๐ก Whatโs Between the Lines?
โ This decision indicates that the Fed has gained sufficient understanding of the risks associated with digital currency activities after two years of intensive monitoring.
โ Some see it as a sign that regulators no longer view digital currencies as a "experimental" or high-risk activity, but rather as part of the normal financial landscape.
โ This may encourage more traditional banks to collaborate with crypto companies.
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๐ Future Outlook:
โ This move shows a shift in the Fed's approach from special monitoring to regular regulation.
โ This could enhance confidence in the sector and indicates that regulators are on track to provide a clearer environment.
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