Fed Soften Crypto Rules, But Warn Say Stablecoins Fit Bring Wahala For Bank Money And Loans

Di Federal Reserve don remove wetin dem talk before say banks need special permission before dem fit do business with cryptocurrency and stablecoin. This one show say dem wan open up for big big companies to take crypto. This change for rule fit make more US banks and money places start to offer crypto things. But, people still dey worry about how stablecoins dey grow fast, especially those wey no be banks dey issue. Di Fed's Community Depository Institutions Advisory Council (CDIAC) warn say if stablecoin plenty, bank customers fit carry their money comot fast, and this one go make am hard for small banks to lend money to local businesses and people for house. Di committee compare this risk to how money market fund grow before and warn say stablecoins no get as much eye on their money flow like normal banks, and this fit make community banks cut down on lending. People dey call for one clear rule for everybody so dat no gap go dey between banks and those wey issue crypto. For another side, Circle launching their global payment system with USDC and other stablecoins wey dem don regulate show say stablecoins dey important for sending money across countries and trading. All this change point to say dem go make rules for stablecoins more tight, and this fit affect stablecoin projects, DeFi, and di whole crypto world. Even though big companies go likely join crypto more, di focus on rules fit bring new wahala for compliance, especially for stablecoin people. Di direct effect on regular crypto traders fit no too much now, but as rules dey change, e go shape wetin dey happen for di market and wetin be di risks.