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Folks, the atmosphere in the cryptocurrency circle this afternoon is a bit subtle! The Federal Reserve just dropped a big bomb by canceling the 'innovative activity supervision plan', and the group instantly exploded with discussions. Let's slowly savor how this will affect our wallets and what new opportunities it may bring!
What is an innovation activity?
In simple terms, innovation activities refer to the Federal Reserve keeping an eye on new things like blockchain and digital currency, worried that these new technologies might disrupt the market. Just like banks and companies using new tricks to issue coins or conduct financial experiments, the Federal Reserve wants to keep some control to prevent chaos. This plan was originally a 'tightening spell' for supervision, and now it's lifted, essentially loosening restrictions on these innovations, feeling like opening the door to a free market.