Bitcoin Extends Gains As Fed Pulls Biden-Era Guidance On Bank’s Crypto Dealings
The Federal Reserve Board on Thursday announced the withdrawal of guidance for banks related to their crypto-asset and dollar token activities and related changes to its expectations for these activities.
These actions ensure the Board’s expectations remain aligned with evolving risks and further support innovation in the banking system.
Bitcoin prices extended gains above $95,000…
Amid a sudden resurgence in net inflows into BTC ETFs…
The Board is rescinding its 2022 supervisory letter establishing an expectation that state member banks provide advance notification of planned or current crypto-asset activities.
As a result, the Board will no longer expect banks to provide notification and will instead monitor banks’ crypto-asset activities through the normal supervisory process.
The Board is also rescinding its 2023 supervisory letter regarding the supervisory nonobjection process for state member bank engagement in dollar token activities.
Finally, the Board, together with the Federal Deposit Insurance Corporation is joining the Office of the Comptroller of the Currency in withdrawing from two 2023 statements jointly issued by the federal bank regulatory agencies regarding banks’ crypto-asset activities and exposures.
The Board will work with the agencies to consider whether additional guidance to support innovation, including crypto-asset activities, is appropriate.
Additionally, CoinTelegraph reports that Bitcoin is flashing multiple technical and onchain signals suggesting that a rally to $100,000 is possible by May.
And as we have noted recently, bitcoin continues to track lagged global liquidity almost perfectly…
Combined with bullish chart structures and concentrated short liquidity overhead, BTC remains positioned for a potential move toward $100,000 by May.
Tyler Durden Fri, 04/25/2025 – 09:25
Source: https://freedombunker.com/2025/04/25/bitcoin-extends-gains-as-fed-pulls-biden-era-guidance-on-banks-crypto-dealings/
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