According to ChainCatcher, the Federal Reserve has announced the withdrawal of regulatory guidelines for banks' crypto asset and US dollar token businesses, and simultaneously updated related business expectation standards.
Damilola Esebame, a special contributor to Finance Feeds, analyzes that this move by the Federal Reserve marks a broader legitimization of Bitcoin in the eyes of regulators, going beyond mere banking policies. It helps the Federal Reserve accelerate its vision of creating a financial environment where Bitcoin is as easily accessible and secure as traditional fiat currency. This could mean that Bitcoin checking accounts, crypto-backed loans, and cryptocurrency-to-fiat currency conversions will be integrated into traditional banking services faster than expected.
