• The Federal Reserve announces that it will ease regulatory requirements for cryptocurrencies and end its specialized oversight program.

  • This move aligns with President Trump's executive order aimed at reducing unfair banking cancellations of cryptocurrencies.

  • This change is seen as a potential positive development for the digital currency industry.

The Federal Reserve has just announced that it is easing its oversight of banks' interactions with cryptocurrencies. It had previously maintained a program to monitor these activities, which is now being shut down.

This action reflects the executive order signed by President Trump last week, which sought to curb unfair bank cancellations of cryptocurrencies. This appears to be a positive development for the industry.

New digital currency guidelines for the Federal Reserve

The Federal Reserve has been the target of criticism from many in the cryptocurrency industry in recent months, with its chairman Jerome Powell firmly rejecting interest rate cuts. This has led to a storm of criticism led by President Trump, but not all is bad. Just today, the Federal Reserve announced that it is easing its regulations on cryptocurrencies:

The Federal Reserve announced on Friday that it will end its supervision program for new activities and return to monitoring new bank activities through the regular supervisory process. Since the board began its program to oversee some cryptocurrency and fintech-related activities in banks, it has enhanced its understanding of those activities," it claimed.

As the Federal Reserve has this increasing understanding of cryptocurrencies, it claims that it will end this program. This reflects recent developments in Trump's war on the implementation of cryptocurrencies, as several executive orders sought to curb unfair bank practices.

By refusing to monitor banks' interactions with cryptocurrencies, the Federal Reserve's decision aligns perfectly with these orders. It is unclear how this new situation will evolve in the markets, but it seems very positive.

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