Federal Reserve Program To The End That Targeted Banking Services For Encryption Star-news.press/wp

In a tremendous development of the encryption industry, the Federal Reserve announced that it will give up a program that focuses only on coding banking services during the era of the “CokePoint Operation”. This is followed by Donald Trump’s signature for an executive order to end unfair banking practices.

The Federal Reserve ends

in press releaseThe US Central Bank announced that it will set the sun set in the program to supervise the activities of the novel and return to monitoring the activities of new banks through the regular supervisory process.

The Federal Reserve noted that since the Board of Directors began its program to supervise encryption and technology activities in banks, the Board of Directors has strengthened its understanding of these activities, risks and practices of banking risk management. However, the Board of Directors will move to integrate this knowledge and supervise encryption activities in the standard supervision process.

Moreover, the Board of Directors will cancel its supervisory speech for the year 2023, which established the program in the first place. This initiative is believed to be one of the ways in which the organizer is imposed by the Biden administration.

This step follows Trump’s signing of an executive order that ended the unfair banking practices based on emotional foundations, such as religion, politician or other ideologies. It was also cited CokePoint and how the Federal Reserve has coerced it on banks that organize it to reduce relationships with encryption companies and entities.

The executive order for banking organizers has imposed on ending any guidelines that they established to carry out these targeted attacks against companies and individuals. At the same time, it should be noted that this is not the first guidance that the regulator calls on banking services for encryption.

Last month, the Federal Reserve, along with other banking organizers, confirmed that banks can embrace encryption assets. They stated that the same rules that apply to other asset custody will apply to encryption custody practices.