The adoption of the flagship crypto asset among financial institutions in the U.S. may accelerate as the Fed loosens restrictions for credit organizations on interacting with digital currencies. According to the head of #MicroStrategy Michael Saylor, an important step has already been taken in this direction. Yesterday, on April 24, the Federal Reserve withdrew the 2022 directive recommending banks limit their interactions with cryptocurrencies.
According to experts, this shift indicates that credit organizations can now freely support Bitcoin. A significant event has occurred that will greatly simplify the process of institutional adoption of the main digital coin. The cancellation of the mentioned directive means that cryptocurrencies will be regulated under standard supervisory processes.$TRB
The opinion was shared by co-founder of Fideum Anastasia Plotnikova. She emphasized that it is necessary to wait for the ratification of bills #GENIUSAct and #stable . The emergence of these regulatory documents at the legislative level will harmonize relations between the relevant organizations and regulatory bodies. Such significant changes could serve as a key driver for mass institutional adoption of the crypto industry.
The Stablecoins Transparency and Accountability Act (STABLE) was passed by the House Financial Services Committee earlier this month. The presented document aims to establish sustainable regulatory principles for digital coins whose value is pegged to the dollar.#CryptoNewss
In turn, the GENIUS bill aims to promote national innovations in the area of stablecoins in the United States.$BTC
Given such significant changes in the legislative landscape of the U.S., the Fed's decision is seen as a turning point for the crypto industry.$BNB