【Significant Positive News】

At the latest congressional hearing, Federal Reserve Chairman Jerome Powell clearly stated that the Federal Reserve does not oppose U.S. banks providing services to cryptocurrency companies and investors, as long as they adhere to existing risk management and consumer protection requirements. At the same time, the Federal Reserve has removed 'reputational risk' from the bank regulatory handbook, reducing the space for a one-size-fits-all rejection of cryptocurrency businesses due to 'image issues'.

This means:

Compliant banks can more boldly provide accounts, clearing, and custody services for exchanges, custodians, funds, etc.;

The long-standing pressure of 'de-banking' on the cryptocurrency industry is expected to ease, further connecting traditional finance with the crypto world;

The compliant channels for institutional funds entering the cryptocurrency market are being formally confirmed, which is positive for the adoption and liquidity of mainstream assets like Bitcoin in the medium to long term.

Regulators have not flashed a 'red light' for cryptocurrency but have instead given a 'can do' signal after clarifying the rules. Do you think this is one of the key catalysts for the next market cycle?