Fed Scraps Crypto Oversight Program After Trump’s “Debanking” Outcry

With political pressure rising, the Fed has ended SR 23-7 and returned to routine review of bank crypto, stablecoin and DLT activities. Crypto oversight has continued under risk-based rules as FDIC and OCC have clarified custody, while ‘reputational risk’ has been dropped.
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Cynthia Lummis Backs Budget-Neutral Bitcoin Reserve – Using Seized Crypto, Not Purchases

Cynthia Lummis has supported Scott Bessent’s statement that the U.S. has said it will not buy Bitcoin for the Strategic Bitcoin Reserve, favoring a budget-neutral path using forfeited assets and a possible gold revaluation, as Bitcoin has hit fresh highs.
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