The US Secretary of Currency (OCC), the top banking regulator in the United States, could quickly ease its strict stance on digital assets. According to a report by The Money, the top US banks, namely JP Morgan and Bank of America, are growing more optimistic that policy regulators will ease long-standing anti-cryptography stances.
Wall Street analysts hope to provide basic services to crypto clients, including detaining digital assets and purchasing Bitcoin exchange sales funds at branches. The change in sentiment among bank officials began with a $3.5 trillion crypto business and its top executive courtship, and promised to end Biden-era regulatory attacks on the crypto industry.
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To ease our attitude on digital assets, we’re Fed, who are OCC officials?
Now that the Trump administration is fully embracing code, Congress is taking steps to drive the law for a new regulatory framework for digital assets. The report says the banks hope to obtain clearance to jump into the crypto business in ways the US hasn’t been able to do in the past.
Bankers hope that Greenlight will do more crypto businesses in short order given Trump’s mission to make the US the world’s crypto capital. “We are confident that there will be encouragement guidance from the US Federal Reserve and OCC over the next few months,” said an executive at Bank of America (BOFA).
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Bitcoin, the world’s largest and most popular digital coin, has experienced significant post-election rally. Bitcoin is up nearly 124% in a year, trading nearly $100,000. Cryptography is also considered to be a volatile and dangerous asset. Some bank analysts are worried that wild swings could put the banking system at risk, depending on the size and size of the bank’s crypto business in the future.
Last week, US FED Chairman Jerome Powell said at a US Policy Press conference that banks do not want to do what they can “fully” with encryption customers and take action to “withdraw” or cancel the bank. He said. Cryptocenters for excessive risk aversion.
Meanwhile, on Thursday, Trump Media and Technology Group Corp. filed for the trademark brand for six investment products that track Bitcoin and the US manufacturing and energy sector. These themes are priorities for US President Donald Trump. The company has not yet filed with the US Securities and Exchange Commission (SEC), a US market regulator, for all six products.
The money-losing social media company is about to debut “Truth.fi Made in America ETF”, “Truth.fi US Energy Independence ETF” and “Truth.fi Bitcoin Plus ETF”. It uses the same theme from the recently announced Truth.fi Financial Platform, subject to regulatory approval.
