【Major Positive News】

In the latest congressional hearing, Federal Reserve Chairman Jerome Powell made it clear that the Federal Reserve does not oppose American banks providing services to cryptocurrency companies and investors, as long as they comply with 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 blanket refusals of cryptocurrency business 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 crypto industry is expected to ease, further connecting traditional finance with the crypto world;

The compliant channels for institutional funds entering the crypto market are being officially recognized, which is a medium- to long-term positive for the adoption and liquidity of mainstream assets like Bitcoin.

The regulatory authorities have not issued a "red light" for crypto; rather, they are sending signals of "what can be done" after clarifying the rules. Do you think this is one of the key catalysts for the next round of market movements?