Saylor Reacts to Fed's Bitcoin U-Turn
Strategy co-founder Michael Saylor claims that they are now free to begin supporting Bitcoin.
On Thursday, the Federal Reserve announced that it had withdrawn guidance for banks related to assets and token activities.
Prior to this, banking institutions were supposed to notify the Fed if they intended to dabble in the nascent asset class.
From now on, cryptocurrency-related activities will be treated just as regular banking activities without extra scrutiny.
"Regular banking oversight still applies, but the path is clearer for banks to enter crypto. Good news if you want big banks in the stablecoin game, and a sign that regulators are adjusting rather than outright blocking crypto integration," Nansen CEO Alex Svanevik.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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