According to reports from Zhito Finance, the Federal Reserve has announced the termination of its 'Emerging Activity Regulatory Program' established in 2023. Part of the program's function was to enhance the regulation of cryptocurrency activities in the banking sector.
From a macro perspective, this move continues the recent trend of U.S. regulators easing cryptocurrency industry regulations, which is positive news for the cryptocurrency market. U.S. media pointed out that in April this year, the Federal Reserve withdrew its guidance requiring banks to obtain regulatory approval before engaging in new cryptocurrency activities. Additionally, two other U.S. federal banking regulators—the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation—have taken similar actions, allowing banks to decide whether to engage in cryptocurrency activities within the existing risk management requirements, which also indicates a subtle shift in the mainstream attitude towards cryptocurrencies in the U.S.