The Federal Reserve recently took a new action by canceling the regulatory plan specifically targeting banks' cryptocurrency and fintech activities, intending to revert to normal regulatory procedures to monitor banks' innovative activities.

Why is this being done? The Federal Reserve stated that since the initiation of that special regulatory plan, they have deepened their understanding of these cryptocurrency and fintech activities, the associated risks, and the banks' risk management practices.

Therefore, they now believe that it is sufficient to reintegrate these regulatory contents into the standard regulatory process, and the regulatory letter issued during the planning phase in 2023 has also been revoked.

This means that in the future, when banks engage in innovations related to cryptocurrency or fintech, the regulatory framework may return to conventional processes, and there will no longer be a separate special plan. #美国7月PPI年率高于预期