The Federal Reserve reduces the supervision of encryption for banks, and cancels the main provisions

The US Federal Reserve updated its basementThe US Board of Governors for the Federal Reserve reviewed the bank’s encryption policy, making it easier when dealing with digital currencies.

the feeding She said that she withdrew from the requirements of her 2022 supervisory speech, which forced banks to make a prior notice at any time they participate in encryption activities. This amendment reflects the advanced organizational environment in the United States.

“These measures include that the expectations of the board of directors remain compatible with advanced risks and support more innovation in the banking system,” the Federal Reserve Bank said in a statement Thursday.

American organizers reduce overseeing encryption and leave banks to manage digital asset activities

Now, the Federal Reserve joins its colleagues from the American banking organizers in eliminating previous encryption instructions, including notifications that banks should obtain it before participating in the encryption activity.

All three agencies, including the Currency Observer Office (OCC) and the Federal Deposit Insurance Company, joined the unlike these previous policies, leaving the issues of digital assets in banks in the hands of their directors and compliance managers. Without directives, the banking industry is awaiting new laws from Congress to determine how the digital asset industry works in the United States

According to the press statement shared by the Federal Reserve, he has now chosen to do things differently instead of this strict control. Moving forward, the banking authority said that it will not only resort to regulating encryption activities in banks. The Federal Reserve has also confirmed that it is reversing 2023 guidelines designed for Stablecoins.

The press statement indicated that “the board of directors is also canceling its supervisory speech for the year 2023 regarding the process of non -supervision of the supervisory supervision of the membership of the state’s member of the state in symbolic activities in dollars.”

OCC has also reviewed its website and was cleared of banks to participate in encryption activities. To complete the current shift, Apex also confirmed that it will work with relevant agencies to determine whether more directions will happen.

OCC has also updated its position, allowing banks to engage in encryption activities. Watching with this transformation, Apex also confirmed that it will work with relevant agencies to determine whether more directions will happen.

The ultimate goal is to enhance encryption innovation to an appropriate level.

American organizers turn towards a more suitable approach to encryption under Trump

Since the opening of President Donald Trump, the Federal Reserve, the US Securities and the American Stock Exchange (SEC), and other major agencies began re -calibrating its position on digital assets. There was a noticeable shift in both approach and focus.

Initially, the Trump administration’s approach to cryptocurrencies seemed somewhat indifferent. However, when the area of ​​digital assets gained momentum, agencies began to respond to the balance between innovation with the organization. SEC dropped some encryption claims to fulfill the promises of the president’s campaign.

One of the prominent cases that SEC closed is a rippal suit. After more than four years of legal battle, the organizer canceled its appeal on the case, a gesture that the payments company corresponded to.

Other encryption exchanges, such as Coinbase Global, UISWAP and Kraken, have also seen their situations. With Paul Atkins now the constitutional oath as SEC president, he announced that Bitcoin will be his priority.

SEC is widely expected to lead more convenient than former President Gary Ginserner as part of the Biden administration.

According to what was delayed due to many Financial disclosure He needed to submit the application due to the marriage of the billionaire family.

Some of these financial disclosures It is said It included up to 6 million dollars of encryption investments, including the Crypto Custodyage Digital and Blockchain Tokenization platform.

Organizers refer to the end of the process CokePoint 2.0

The talks on CokkePoint 2.0 have filled the ecosystem for encryption during the past year. The companies operating in the industry complained of direct efforts to impeding the innovation of encryption.

Coinbase provides an active legal lawsuit with FDIC to detect the methods that the agency tried to strangle companies. The president and Crypto CZAR DAVID SACKS promised to end the ConkePoint industry and drew a new course for the ecosystem of the American digital assets.

The recent developments conducted by the Federal Reserve, OCC, SEC, and FDIC, are affirmed by the end of Agenda of Operation ConckPoint.

The SEC chair stated that the mysterious rules hinder growth and promised to focus on protecting investors, removing politics, and ensuring smart and effective control.

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