On Friday, August 15, the Federal Reserve changed its approach to regulating digital assets, bringing them under the scope of banking supervision. This means that cryptocurrencies are now equated with traditional financial instruments. This reduces pressure on banking organizations, opening new opportunities for industry development.
Now banks will be able to independently assess risks when interacting with digital currencies without approval from regulators. This will allow companies to implement new services and offer clients an expanded range of services: working with stablecoins and custodial services.
Most specialists in the field of digital assets view these changes positively. In their opinion, a more predictable regulatory framework is being formed, which mitigates barriers primarily for institutional capital. Under current conditions, banks will be able to apply systemic risk assessment strategies that were previously used only for traditional assets.
Experts emphasize that this will not only stimulate financial innovations but also contribute to the growth of trust in cryptocurrencies among institutional investors. As for banks, the current changes mean a reduction in bureaucratic barriers and transaction costs.
Credit organizations will not require prior approval from the Federal Reserve, allowing them to quickly bring new digital products to market. However, credit companies are obliged to ensure the security of operations, which has become a key condition for the American regulator. Many experts note that this step by the Federal Reserve can be seen as a recognition of digital coins as an integral part of the financial system.
