Federal Reserve Revokes Restrictions on Crypto Activities for Banks

The U.S. Federal Reserve has eased its stance on cryptocurrencies, removing previously imposed restrictions on bank involvement in digital assets and stablecoins. In a recent press release, the Fed announced it will no longer require banks to provide advance notice before engaging in crypto-related activities, instead subjecting these activities to the usual bank supervision process. This shift marks a departure from previous cautionary measures regarding digital asset risks.