in the United States is the Financial Stability Oversight Council. This council has now stopped listing crypto as a danger to the wider financial system. It has also stopped listing many other things as threats. This is a big change from the past. For years the council warned that crypto might cause trouble if it became too linked with the rest of the financial system.
Treasury Secretary Scott Bessent said in the new report that the council will now focus on economic growth as a key part of financial stability. He said that just looking for dangers is not enough. He said real stability also comes from strong and steady growth and from better long term security for the country.
This move frees the crypto sector from the usual place it held in past reports. Earlier reports always had a section that pointed to risks in digital assets. Those older reports stressed that the market was still small but could become a problem if some crypto products grew too large. That thinking is not in the 2025 report. The new document from the current administration is much shorter than the report from last year. It also removes the word vulnerabilities from the table of contents. This shows a full shift in how the council sees its mission.
The 2024 report written under the last administration had many warnings and many suggestions for Congress. It asked lawmakers to make rules for stablecoins and to decide who should oversee the spot market. It painted digital assets as something to watch with care. The 2025 report does not do that. It has no direct recommendations for new laws and no clear signs of worry.
Instead the new report points to steps from the Presidents Working Group on crypto. It says that earlier work from that group offered ideas for Congress and for government agencies to help the nation lead in digital financial tech. It says that the goal now is to support new ideas and keep the country strong in this field.
The digital asset section also notes that regulators have changed their stance. In the past many regulators warned banks about working with crypto. They sometimes blocked firms from taking part in the market. The new report says that these limits have been pulled back. It gives credit to the strengths of the sector and the new tools that are growing fast.
There is still one warning. The report says that some stablecoins can be used for bad actions like hidden finance activity. But even with this warning the tone stays calm. The report also says that the use of stablecoins that match the United States dollar will help support the dollar around the world in the next ten years.
This update shows a full shift in how the council sees digital assets. Instead of marking them as a danger the council now sees them as part of a growing financial world that can help the nation move forward.
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