Source: International Business Times
Crypto and banking Crypto and banking Dmytro Demidko/Unsplash KEY POINTSThe board rescinded two supervisory letters and a third one jointly issued with the FDIC and Comptroller of the CurrencyBitcoin traded above $94,000 at one point in the night, and all other top altcoins were in the greenSome crypto users are concerned the move may result in short-term "uncertainty" among banksBitcoin and other major cryptocurrencies climbed Thursday night after the Federal Reserve Board (FRB) announced that guidance for banks related to crypto and stablecoin activities was being withdrawn. The move comes just weeks after the Federal Deposit Insurance Corporation (FDIC) made a similar announcement, giving more leeway for banks across the country to engage with the crypto industry. FBR opens a path for crypto and banking activitiesThe Federal Reserve Board said Thursday that it was rescinding three supervisory letters that played a major role in stunted adoption of crypto offerings among American banks and financial institutions.
