Fed don end crypto oversight program, e ease bank supervision
Di US Federal Reserve don end dia Novel Activities Supervision Program wey since 2023 dey enforce special crypto supervision for how banks dey handle digital asset dem. Now, Fed go merge crypto supervision join dia regular bank review dem. Under dis change, US banks fit offer service like dollar-backed stablecoins without gatz get Fed approval first. Dis decision na follow after one presidential executive order wey dey target unfair banking practices, including some parts of Operation Chokepoint 2.0, and e dey try make ground equal for digital asset providers dem. Regulators recently talk say custody of crypto asset go dey follow same rules wey govern other asset dem. Senator Cynthia Lummis hail dis move as big win wey stop targeted crypto oversight. Industry people like Michael Saylor talk say road clear now for Bitcoin and banking. The program close go reduce regulatory wahala, increase institutional participation and boost confidence for digital asset market dem.
Bullish
Di Fed decision to end special crypto oversight na mark say shift towards making digital asset supervision mainstream. By putting crypto oversight inside normal bank checks and allowing services like making stablecoins without special approval, dis move dey reduce regulatory wahala and fit attract bigger institutional money. Historically, targeted programs like Operation Chokepoint reduce bank participation wit crypto companies. Removing dis kind friction usually support bullish movement, as less scrutiny encourage product launch and custody services. Short term, traders fit see good market feeling and increased liquidity. Long term, wider bank adoption fit strengthen crypto infrastructure and price stability, supporting further growth in digital asset sector.