The prices of bitcoin and cryptography have evolved while a leak reveals that the radical plans of American president Donald Trump for the crypto cause an increasing “panic” among the establishment.
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The price of Bitcoin has climbed to $ 100,000 per Bitcoin, compared to April $ 75,000, while the bruises traders are betting that the market is heading for a “tilting point” of 19 billions of dollars.
Now, as Swirl Crypto fears, the “contagion” could explode the financial system, the federal reserve discreetly restored the rules that have dissuaded Wall Street to engage with bitcoin and crypto – just as institutional investors increase the price of bitcoin.
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The president of the American federal reserve, Jerome Powell … More
The Federal Reserve announced that it retained guidelines initially published by the president of the Democratic Party, Joe Biden, who dissuaded the banks of Wall Street to engage in crypto and stable activities by forcing them to obtain prior approval.
“The council cancels its surveillance letter in 2022 establishing an expectation that the banks member of the State provide a prior notification of the planned or current activities of cryptocurrencies,” wrote the Council of Governors of the Federal Reserve in a press release.
This decision sees the Fed joining the Federal Deposit Insurance Corporation (FDIC) and at the office of the Currency Controller (OCS) in the withdrawal of their own declarations which called on banks to be more vigilant around the risks linked to cryptography.
Under management, the Fed had warned banks to be wary of volatility, legal uncertainty and liquidity risks when they plan to provide crypto -related services or take cryptographic companies as customers.
“With these restrictions, the banks of members of the state can now continue cryptographic companies without prior approval, although such activities are always monitored by standard supervision,” said Tagus Capital analysts in a note sent by email.
“This decision reflects the increasingly pro-Crypto position of the Trump administration, in particular a reduction in the regulatory application, the support for a national Bitcoin reserve and the appointment of a president of the securities and exchange commission (SEC), Paul Atkins, known to support digital assets.”
This decision was greeted as a victory on the rules of the Biden era which had been described as a “Choke Point 2.0 Operation” underground by some and at least led the banks to move away from the crypto. An anonymous cryptographic banking lawyer said Decipher The Fed “moves in the right direction”.
“Banks are now free to start supporting Bitcoin,” said Michael Saylor, founder of the strategy, in response to the Fed declaration.
In the past year, following the beginnings of a fleet (ETF) on Bitcoin Success Bitcoin exchangers at Wall Street, banks rushed to offer bitcoin and crypto to customers.
This week, the Bitcoin ETF have recorded their best day since January, breaking their downward trend while transactions “risk” in response to the reports that the United States and China are looking for ramps outside the world trade war. The Bitcoin Prize has climbed while gold has dropped following claims that China plans to exempt certain goods from American prices.
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The price of Bitcoin has rebounded, moving to $ 100,000 and erases many losses … More
However, the announcement has ceased to officially modify the Fed policies when it comes to granting mastery accounts of the Crypto -based banks, giving members direct access to the Fed services.
Crypto -oriented banks like Custodia and Kraken Financial have campaigned for years for masters with the Fed.
“In the future, the markets will closely monitor American administration policies and the actions of the federal reserve,” said Joel Kruger, a strategist of the LMAX group market, in the comments sent by e-mail, adding that the market remains closely listening to the Fed interest rates, the risk of recession and the possibility of returning to quantitative relief.
“Despite the signs of the softening of its commercial position, uncertainty persists on the trajectory of the American economy. The pressure rises on the Fed to reduce rates more aggressively, which could trigger wider outings in US dollars. ”
