The United States Senator Cynthia Lummis suggests that the cryptographic industry can celebrate too early over the US Federal Reserve, which softens its guidelines for cryptocurrencies for banks.
“Fed withdrawing distinguished cryptography is simply noise, not real progress,” Lummis he said In the post of April 25. Lummis called the Fed announcement on April 24 – withdrawing the supervisory letter in 2022, which discouraged banks from engaging in cryptographic and Stablelecoin – “Just Lip Service”.
Lummis is “not cheated”
Lummis, Pro-Crypto, known for the introduction of the Bitcoin (BTC) strategic reserve in July 2024, indicated some disadvantages in the FED announcement, even as the founder of the strategy, Michael Saylor and crypt entrepreneur Anthony Pompligen, suggested that it was a step forward for Banks and Crypto.
She claimed that the Fed still “illegally disregards the law on the main accounts” and was still based on the risk of reputation in its banking supervision practices. According to the recent Bloomberg Federal Insurance Deposit Corporation (FDIC) is working on the principle to stop the examiners from considering the reputational risk during the review of the bank’s activities report.
Lummis also emphasized the FED political statement in section 9 (13), which was not withdrawn, stating that Bitcoin and digital assets are considered “dangerous and dissatisfaction.”
She also repeated that many of the same employees ChokePoint 2.0 are still involved in cryptocurrency policy today.
“We are not cheated. Fed murdered companies in the industry and hurt American interests, suppressing innovative and closed companies. This fight is far from the end.”
“I will continue to be responsible for the Fed until the digital asset industry gets more than a rescue vest, chairman of Powell – they need an honest shock,” said Lummis.
Related: If Trump released Powell, what would happen to Crypto?
The founder and general director of Custody Bank, Caitlin Long, seemed to have a similar view to Lummis.
“Thank you for what it is” for a long time he said.
However, other cryptocurrency directors praised the Fed announcement as a positive development of the industry. Saylor he said In a post of April 25, Fed’s movement means that “banks can now start supporting bitcoins.”
Anastasija Płotnikova, co -founder and general director of Fideum Fideum Fideum, said that the Fed’s decision “is significant development because it will simplify the path to institutional adoption.”
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