The US Federal Reserve said on April 24 that he Requirement requirements The banks provide pre -interest before participating in the coded currency. This is the complete face of the regulatory bodies of cautious policies that have already been taken with digital assets.
Banks can now engage in Crypto and Stablecoin without the need for a special permission, although they will remain subject to regular supervision.
The Trump official is doing a good job promise to the encryption campaign
Political transformation realizes that US President Donald Trump’s campaign has pledged to make the United States friendly. This complements the process of retracting the restrictions imposed on banks that look forward to participating in legal activities in the Blockchain area, according to reports of banking industry monitors.
the Federal Reserve The third of the major organizers from the bank who withdrew the encryption letter, following the same measures taken by the Federal Deposit Insurance Corporation (FDIC) at the end of last month and the Currency Observer Office (OCC) earlier of that month.
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Previous restrictions created barriers in front of banks
Under the 2023 guidelines that have been withdrawn since then, instructions were directed to banks organized by the Federal Reserve to notify the main supervisory point of contact in the Federal Reserve before engaging in any encryption activity.
The border was imposed after a series of crises on the digital currency sector in 2022, prompting the organizers to issue warnings about possible dangers. A lawsuit between FDIC and Coded Coinbase’s exchange means that the banks subject to supervision are very unforgettable, at all, have obtained adventure approval in encryption companies when they applied such requests.
Total crypto market cap at $2.92 trillion on the daily chart: TradingView.com
Federal Reserve Transformations to the Standard Supervision approach
Instead of the need for a special prior notification, Bitcoin will be examined through the process of supervising regular banks at the Federal Reserve. The federal reserve also withdrew its policy for 2023, which restricts banking participation with Stablecoins, which is usually referred to as “the distinctive symbols of the dollar”.
The Federal Reserve also withdrew from two joint statements issued with other agencies that highlighted the potential threats of fraud, wrong information and unstable money flows associated with cryptocurrencies.
It is possible that the sectors of banking services and encryption are acquired
The decision was appointed to alleviate compliance requirements and provide new opportunities for banks in the work of encryption assets. The Federal Reserve in the announcement of this step said that the board of directors will coordinate with the agencies on whether additional guidelines are needed to facilitate innovation, including digital asset works, in announcing this step.
This comes in the wake of the January decision by the Securities and Stock Exchange Committee to retract a base that forced banks to bear the encryption to classify it as a responsibility.
The Federal Reserve indicated that it will continue to monitor the risks related to digital assets, but through routine control rather than special restrictions.
Distinctive image from the Manhattan Institute, the tradingvief chart
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