Republican Senator Centeh Lomes of Wyoming says that the federal reserve is withdrawing his encryption guidelines for banking institutions is just a “lip service”.
On a new topic on the social media platform X, the pro -lengthy legislator He says The recent Federal Reserve’s actions are largely dedicated to offer due to several factors.
Earlier this week, the Federal Reserve – along with the Federal Deposit Insurance Company (FDIC) and the Currency Observer Office (OCC) – canceled many guidelines and data that were made by how banks conduct encryption activities.
The Federal Reserve was mentioned at the time,
The Federal Reserve announced on Thursday the withdrawal of guidance for banks related to the activities of the distinctive symbol of the dollar and the dollar and the changes related to their expectations for these activities.
These procedures ensure that the Board’s expectations remain compatible with advanced risks and support for innovation in the banking system. “
However, according to Lummis, the actions of the Federal Reserve are superficial because they still use reputation risks when overseeing banks. Lummis also says that the Federal Reserve did not withdraw the policy that is considered Bitcoin (BTC) and Crypto inaccurate and intact. She also says that the federal reserve publicly ignores the law when it comes to encryption banks that submit a request to obtain major accounts, which is the record of the rights and financial obligations of the account holder in relation to the Administrative Reserve Bank.
Finally, Lummis notes that the Federal Reserve still uses the same employees who tried to strangle the digital assets using regulations under the Biden Administration.
Last month, Lomes, along with Republican actor Nick B. Beach, foot A prominent bill to use the highest encryption assets by the market as a strategic reserve asset. The bill was submitted after President Donald Trump signed an executive order to create BTC as a backup asset.
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