【Major Positive News】

In 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 outright rejection of crypto 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 formally recognized, which is a medium to long-term positive for the adoption and liquidity of mainstream assets like Bitcoin.

The regulatory authorities have not given a "red light" to crypto but instead have provided a signal 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 trends?