【Major Positive Development】

At the latest congressional hearing, Federal Reserve Chairman Powell clearly stated that the Federal Reserve does not oppose U.S. 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 manual, reducing the space for blanket refusals of crypto businesses due to "image issues."

This means:

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

The long-standing pressure of "de-banking" on the crypto industry is expected to ease, further bridging traditional finance and the crypto world;

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

The regulators have not given a "red light" to crypto; rather, after clarifying the rules, they have sent a signal of "what can be done." Do you think this is one of the key catalysts for the next market cycle?