Feds will soon release the tough attitude towards digital assets while Trump hugs cryptoculate

Federal Reserve and Currency Controller Office – the country’s highest banking regulators – will soon release their strict stance when it comes to digital assets now that President Trump has completely embraced the industry, they have learned about money.

Officials in the country’s highest banks, namely JP Morgan and the Bank of America, are growing more optimistic that regulators will mitigate their long anti-manistal stance. They expect to even provide basic services to cryptocurrencies, such as keeping digital assets in custody, even buying funds traded from Bitcoin exchange in their branches.

Changing the feeling to the bank’s main supervisors began everyone began with the trump of the trump of $ 3.5 trillion and its top leaders, and promising to end the Biden era regulatory attack, Reports Eleanor Fox Business.

Trump put the words in action earlier this month when his insurance and exchanges commission changed the strict Biden accounting guidelines that made it difficult for banks to keep custody of digital assets.

The mass can continue to climb the prices of cryptocurrencies-including Bitcoin, the world’s most popular digital currency, experiencing an important after election rally. Bitcoin has grown almost 124% over the past year, trading about $ 100,000.

“I expect banking regulators to get on board with the new administration access to cryptocurrencies and we will see banks entering space at a fast pace,” Mike Lempres, former chairman of the Silvergate Capital Capital Capital, and a consultant for cryptocurrencies, told the ground.

Silvergate volunteered in 2023 because the regulatory requirements were very heavy after FTX.

“Blockchain technology can lead to a dramatic increase in banks’ ability to serve customers and meet the rules of the bank secrecy act,” Lempres added.

Both FED and OCC, one of the Treasury Department, are semi-independent regulators of the country’s large banks and can theoretically ignore the guidelines given by the SEC. Following the fall of Sam Bankman’s FTX exchange and the improper use of customer money, the two went to a jihad against Crypto in the banking system.

But now that the Trump administration is fully embracing cryptocurrency, and Congress is taking steps to cross legislation into the cryptocurrency business in ways they couldn’t in the past.

Reps for Fed and OCC had no immediate comment.

Whether it’s a good idea for banks to dive into the first head in cryptocurrency depends on who you speak. Cryptos supporters believe that the business is mostly healthy; Critics say it is still a shelter for illegal activities such as money laundering for global criminal organizations.

Crypto is also considered an unstable, dangerous asset; On Sunday, Bitcoin fell from $ 10,000 to $ 92,000 just to recover, raising another $ 10,000 on Monday to close to $ 110,000. Some banking analysts worry that such wild oscillations can endanger the banking system depending on the size and scale of the bank’s cryptocurrencies that goes ahead.

That is to say, bankers expect to get the green light to do more crying business briefly given the Trump’s mandate to make the US the capital of the world crypt. “I’m sure we will see some encouraging guidelines from the FED and OCC in the coming months,” said one executive at the Bank of America. Bofa General Director Brian Moynihan said recently the bank would be thrown into cryptocurrencies as soon as regulators allow.

Last week, Fed Chairman Jerome Powell said at his post-accusing press conference that banks are “completely capable” to serve cryptos clients and do not want to take actions that would make banks to “Debank” or cancel customers who are cryptocurrencies centric due to avoiding excessive risk.