US banks are ‘free to begin supporting Bitcoin’ — Michael Saylor
Bitcoin adoption may accelerate after the US Federal Reserve eases restrictions on banks engaging in crypto activities, opening the door for institutional participation.
Bitcoin adoption among United States financial institutions could see a major boost after the US Federal Reserve withdrew its guidance discouraging banks from engaging with cryptocurrency.
On April 24, the Fed withdrew its 2022 supervisory letter that served as guidance to deter banks from engaging in crypto and stablecoin activities. The withdrawal spurred a notable uplift in Bitcoin (BTC) investor sentiment.
The 2022 guidance initially warned that crypto may pose risks to investors and the stability of the US financial system.
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