The U.S. Federal Reserve has reversed its 2023 guidance that restricted banks from engaging in cryptocurrency activities, marking a significant policy shift that creates a formal pathway for both insured and uninsured banks to pursue crypto-related services under Fed supervision. This move signals a regulatory reassessment as digital assets like Bitcoin and Ethereum increasingly intersect with traditional banking infrastructure, potentially lowering operational frictions and expanding institutional participation in digital asset markets.
about Fed Reverses Crypto Banking Rules, Easing Access for InstitutionsMichael Barr
0 posts last weekFed’s Barr: AI Will Transform Economies, Outcomes Vary
Federal Reserve Governor Michael Barr predicts artificial intelligence will fundamentally reshape global economies, though the exact outcomes remain uncertain. Speaking at the Singapore FinTech Festival, Barr outlined two potential scenarios for AI’s economic impact. His remarks highlight the central bank’s growing focus on technological disruption and its varying implications for economic structures worldwide.
about Fed's Barr: AI Will Transform Economies, Outcomes VaryKey Developments in Financial Regulation and Stablecoin Legislation in Washington
Bipartisan momentum for stablecoin legislation is building, but challenges remain regarding “narrow banking,” where institutions hold deposits without lending, potentially starving the economy of credit. As Washington prepares for key hearings, the future of financial regulation hangs in the balance, with existential questions about federal oversight amid rapid technological change. The success of stablecoins will depend on balancing banks’ risk appetites with the borderless nature of cryptocurrency, raising geopolitical concerns about dollarization in emerging markets.
about Key Developments in Financial Regulation and Stablecoin Legislation in WashingtonCFTC Chair Rostin Behnam Resigns Calls for Crypto Regulation Improvements
CFTC Chair Rostin Behnam will resign on January 20, with his final day at the agency set for February 7. He highlighted the need for stronger crypto regulation amid increasing market adoption, contrasting the CFTC’s lighter approach with the SEC’s tougher stance. No successor has been named yet, but former Commissioner Brian Quintenz is a potential candidate.
about CFTC Chair Rostin Behnam Resigns Calls for Crypto Regulation ImprovementsBitcoin Surges Past 100000 Amid Institutional Interest and Market Dynamics
Bitcoin (BTC) has surged past $100,000, driven by institutional interest and plans from MicroStrategy to raise $2 billion for further purchases. Meanwhile, Ethereum (ETH) struggles to maintain momentum around $3,700, while AI tokens see significant gains, reflecting growing demand in the sector. The overall crypto market cap has risen to $3.58 trillion, with Bitcoin’s market cap exceeding $2 trillion.
about Bitcoin Surges Past 100000 Amid Institutional Interest and Market DynamicsCFTC Chair Rostin Behnam Resigns Ahead of Trump’s Inauguration
CFTC Chair Rostin Behnam will resign on January 20, coinciding with President-elect Donald Trump’s inauguration, and leave the Commission on February 7. His departure follows that of Michael Barr from the Federal Reserve, as several crypto-skeptic regulators step down to avoid conflicts with the incoming administration, which is expected to favor pro-crypto policies. Behnam’s tenure included efforts to position the CFTC as the primary regulator of Bitcoin and to advocate for stricter regulations on cryptocurrency exchange-traded products.
about CFTC Chair Rostin Behnam Resigns Ahead of Trump's InaugurationMichael Barr’s Resignation May Shift US Crypto Regulatory Landscape
Michael Barr, the Federal Reserve’s Vice Chair for Supervision, will resign on February 28, potentially signaling a shift towards a more crypto-friendly regulatory environment. Known for his strict anti-crypto stance, Barr’s departure raises speculation about his successor, possibly Fed Governor Michelle Bowman, who has shown openness to blockchain technology. This change could lead to the easing of restrictions on banks’ engagement with crypto and the end of initiatives like Operation Chokepoint 2.0, fostering a more favorable landscape for the crypto industry.
about Michael Barr's Resignation May Shift US Crypto Regulatory LandscapeFed Vice Chair Michael Barr Resigns Citing Stablecoin Regulation Needs
Fed Vice Chair Michael Barr has announced his decision to step down, emphasizing the urgent need for stablecoin regulation. His departure highlights ongoing discussions about the regulatory framework surrounding digital currencies.
about Fed Vice Chair Michael Barr Resigns Citing Stablecoin Regulation Needs