Fed Joins Trump In Supporting Digital Possession Rules

Against the background of years of regulatory obscurity, Washington seems to wish to take control of the crypto environment. On June 18, Federal Reserve Chairman Jerome Powell amazed numerous by clearly supporting 2 landmark bills on stablecoins and the crypto market. In an altering political environment in the United States, this position marks a possible juncture for the industry, which has long waited for a solid and predictable legal framework.L’short article Fed Joins Trump In Supporting Digital Asset Rules est apparu en leading sur Cointribune.

Powell confirms the urgency of a structure for stablecoins While the Fed alters its method on banks’ crypto activities, during his June 18 testament before Congress, the chairman of the U.S. Federal Reserve, Jerome Powell, stated that the legal development on crypto was” an excellent thing” including that” we need a framework for stablecoins “. It especially provides for: A clear federal structure for releasing and trading stablecoins, with centralized regulative oversight; Reserve and transparency requirements intended at guaranteeing the stability and solvency of stablecoin companies; A rare political consensus, supported by Donald Trump, who called the costs” unbelievable” and presented it as a lever for making the United States” the indisputable leader of crypto “; An extraordinary positioning between the Fed, Congress, and the executive, which might speed up the adoption of a long-awaited legal structure by the industry. In other words, banks can now work with crypto gamers without fearing charges due to image factors to consider.

Powell confirms the urgency of a structure for stablecoins While the Fed alters its technique on banks’ crypto activities, throughout his June 18 statement before Congress, the chairman of the U.S. Federal Reserve, Jerome Powell, stated that the legislative development on crypto was” an outstanding thing” including that” we need a structure for stablecoins “. It significantly offers for: A clear federal framework for providing and trading stablecoins, with centralized regulative oversight; Reserve and openness requirements aimed at ensuring the stability and solvency of stablecoin providers; An unusual political consensus, supported by Donald Trump, who called the expense” incredible” and provided it as a lever for making the United States” the undeniable leader of crypto “; An extraordinary alignment between the Fed, Congress, and the executive, which could speed up the adoption of a long-awaited legal framework by the market. Towards the end of “debanking” and a banking environment more favorable to cryptos Beyond the question of stablecoins, Jerome Powell also made a strategic shift by revealing that the Fed would no longer” take reputational threat into account” in assessing banking activities. In other words, banks can now work with crypto gamers without fearing penalties due to image factors to consider.