🏦 The Federal Reserve System of the USA Changes Policy on Crypto
The Federal Reserve (Fed) has taken an important step for the development of the cryptocurrency market in the USA — the requirement for mandatory prior notification for banks wishing to work with crypto assets or stablecoins has been lifted.
What this means:
Previously, banks were required to inform the Fed about any activities related to crypto assets.
Now, banks can start working with cryptocurrencies without separate approval, adhering only to basic risk management rules.
This creates conditions for the simplified entry of large banks into the crypto sphere.
Why this matters:
This is yet another signal of the legalization of cryptocurrencies at the highest financial level.
It opens the way for more widespread adoption of crypto in the US banking sector.
It could enhance liquidity and trust in the market, especially for stablecoins.
Such a move could be a game changer for the market, as institutions will be able to more easily integrate crypto services into their operations.
