{"id":23121,"date":"2025-04-17T10:24:39","date_gmt":"2025-04-17T07:24:39","guid":{"rendered":"https:\/\/forklog.com\/en\/federal-reserve-considers-easing-cryptocurrency-restrictions-for-banks\/"},"modified":"2025-04-17T10:24:39","modified_gmt":"2025-04-17T07:24:39","slug":"federal-reserve-considers-easing-cryptocurrency-restrictions-for-banks","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/federal-reserve-considers-easing-cryptocurrency-restrictions-for-banks\/","title":{"rendered":"Federal Reserve Considers Easing Cryptocurrency Restrictions for Banks"},"content":{"rendered":"<p>Regulators may &#8220;ease&#8221; requirements related to digital assets for financial institutions in the future, according to Jerome Powell, Chairman of the <span data-descr=\"Federal Reserve System of the United States\" class=\"old_tooltip\">Federal Reserve<\/span>.<\/p>\n<p><iframe loading=\"lazy\" width=\"1466\" height=\"825\" src=\"https:\/\/www.youtube.com\/embed\/1o_9kO0zZQg\" title=\"Hon. Jerome H. Powell, Chair, Board of Governors of the Federal Reserve System, 4\/16\/25\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>The official mentioned a &#8220;wave of failures and fraud&#8221; in the sector in recent years but noted the industry&#8217;s shift towards the &#8220;mainstream.&#8221;<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;We have taken a fairly conservative view. Other regulators have taken an even stricter stance regarding the guidelines and rules they have implemented for banks. I think there will be some easing,&#8221;<\/em> Powell explained.<\/p>\n<\/blockquote>\n<p>According to the Fed Chair, the central bank intends to encourage innovation without exposing consumers to risks or undermining the reliability and resilience of institutions.<\/p>\n<p>Powell described recent legislative initiatives regarding stablecoins as &#8220;positive.&#8221;<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Such a product can gain widespread popularity and should include typical consumer protection measures and transparency,&#8221; he emphasized.<\/p>\n<\/blockquote>\n<p>On April 16, in an interview with <a href=\"https:\/\/www.ft.com\/content\/afd62059-9bb8-43b3-9395-65dd92a94d33\">Financial Times<\/a>, Binance CEO Richard Teng acknowledged the U.S. administration&#8217;s friendly approach to digital assets, including plans to establish a regulatory framework and<a href=\"https:\/\/forklog.com\/en\/news\/donald-trump-orders-creation-of-a-us-crypto-reserve\"> a national crypto reserve<\/a>.<\/p>\n<p>The top executive reported the platform&#8217;s cooperation with authorities in several countries on establishing a <span data-descr=\"strategic bitcoin reserve\" class=\"old_tooltip\">SBR<\/span>.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Legislative Work<\/strong><\/h2>\n<p>Formed by Trump in January, the <a href=\"https:\/\/forklog.com\/en\/news\/white-house-working-group-to-assess-a-national-crypto-reserve\">working group<\/a> on digital asset markets <a href=\"https:\/\/forklog.com\/en\/news\/david-sacks-prioritizes-bitcoin-reserve-assessment\">identified<\/a> the development of a regulatory framework for stablecoins as a priority.<\/p>\n<p>In April, the U.S. House Financial Services Committee<a href=\"https:\/\/forklog.com\/en\/news\/us-house-of-representatives-to-vote-on-stablecoin-regulation-bill\"> passed<\/a> the STABLE Act framework bill on oversight of &#8220;stablecoin&#8221; issuers, which will now proceed to a vote in Congress.<\/p>\n<p>On March 13, the U.S. Senate Banking Committee<a href=\"https:\/\/forklog.com\/en\/news\/us-senate-banking-committee-backs-stablecoin-regulation-bill\"> approved<\/a> an alternative document, the <a href=\"https:\/\/forklog.com\/en\/news\/david-sacks-prioritizes-bitcoin-reserve-assessment\">GENIUS Act<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Regulators may &#8220;ease&#8221; requirements related to digital assets for financial institutions in the future, according to Jerome Powell, Chairman of the Federal Reserve. The official mentioned a &#8220;wave of failures and fraud&#8221; in the sector in recent years but noted the industry&#8217;s shift towards the &#8220;mainstream.&#8221; &#8220;We have taken a fairly conservative view. Other regulators [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":23120,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229,1249,1440,36,807],"class_list":["post-23121","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-federal-reserve-system","tag-jerome-powell","tag-regulation","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/23121","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=23121"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/23121\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/23120"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=23121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=23121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=23121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}