crypto

Listen, cool news from the world of crypto — and this time from Jerome Powell himself, the head of the US Federal Reserve System. He recently told the Senate that bitcoin and other cryptocurrencies have reached maturity and have become much more popular. Can you imagine? A man who used to be pretty cool about crypto now admits that the industry has grown.
It all happened on June 25 during his speech before the Senate Banking Committee. Senator Cynthia Lummis asked him a specific question: what has changed since 2023, when the Fed issued a rather strict policy on stablecoins and crypto assets? Then, let me remind you, they said that the issue of tokens in open and decentralized networks is most likely incompatible with secure banking practices.
But now it's a completely different mindset. Powell acknowledged that the industry has matured and regulators' understanding has improved. Moreover, he bluntly said that the Fed is reviewing those decisions and statements that were made in the “Biden era” — that is, about 2-3 years ago. Regulators no longer look at the crypt as something outlandish and threatening.
Powell also noted an important thing: banks have the right to work with cryptocurrencies if they do it competently and safely. That is, the very fact of working with the crypt is no longer considered something dangerous by default. The main thing is that everything should be within the framework of reasonable regulation.
He explained that the policy statement on section 9(13) (the same document referred to by Lammis) is not purely about the crypt, but part of a broader regulatory framework. But the crypt is one of its key elements. This means that the revision of this section can seriously affect the rules of the game in the market.
So if the Fed does change policy, it will be a kind of “official recognition" of cryptocurrencies as a mature part of the financial system. In general, this can give a strong impetus to banks, funds and other players to enter the crypto market more actively.
And so I sit and think:
Is this a step towards the full integration of crypto into the global economy, or just another political gesture? What do you think?
#CryptoNewss #crypto #JeromePowell #Stablecoins

Listen, an interesting thing has happened in the world of cryptocurrencies: Hong Kong has officially allowed the first broker from mainland China to trade digital assets. This broker is Guotai Junan Securities (Hong Kong), a subsidiary of the large financial structure Guotai Junan International, which operates in mainland China.
What happened? They were granted an updated license from the Hong Kong Securities and Futures Commission (SFC). Previously, this company already had a type 1 license — it allowed trading in ordinary securities. Now they have been officially allowed to trade cryptocurrencies, and in full compliance with local laws and as part of an agreement with licensed virtual asset platforms. That is, their customers can now buy and sell bitcoins, ethereums and stablecoins through this platform — absolutely legally.
This is actually a big step — and not just for the company. Hong Kong has long sought to become a crypto hub in Asia and create a transparent and reliable market for digital assets. And the approval of such a major player suggests that the region is betting on institutional investors, not just retail traders.
Moreover, it is also a political signal. Although China maintains a tough position within the country towards cryptocurrencies, it makes it clear through Hong Kong that digital finance is the future, and it cannot be abandoned altogether. A kind of "dialogue" is beginning between traditional banks and the cryptocurrency sector, but within the framework of strict regulation.
So, in fact, Guotai Junan became the first to follow this new route. And, most likely, others will catch up with them.
Now the question is: if even such large and cautious players as Chinese brokers start entering the crypt legally and with regulatory approval, maybe this is a sign that the crypt is really becoming part of the future financial system?
#CryptoNewss #cryptocurrency #HongKong #crypto