U.S. Senator Lummis: The Federal Reserve's move to withdraw its guidance on Crypto Assets regulation is just talk.

GateUser-6433627c · 2025-04-25T16:46:26+00:00

U.S. Senator Lummis believes that the Federal Reserve's withdrawal of the crypto asset regulatory guidance is merely formal, pointing out that the Federal Reserve continues to defy the laws regarding main accounts, considering that it poses a reputational risk in bank regulation due to its statement that digital assets are unsafe and unsound, and notes that the personnel behind the crypto actions are the same as those currently handling crypto issues.

GateUser-6433627c

2025-04-25 16:46:26

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[U.S. Senator Lummis: The Fed’s move to withdraw cryptocurrency regulatory guidance is just empty talk] Cynthia Lummis, a crypto-friendly U.S. senator and chairman of the U.S. Senate Bank Digital Assets Subcommittee, said in a post on platform X that the Federal Reserve’s move to withdraw cryptocurrency regulatory guidance yesterday is just empty talk, because the Federal Reserve continues to illegally flout master account laws, and unlike the OCC and FDIC, the Fed still has reputational risks in banking supervision. In particular, the (13) 9 policy statement in the master accounts law, which states that Bitcoin and digital assets are not safe and sound, has not been withdrawn. What’s more, the Fed staff behind Operation Chokepoint 2.0 is the same people who are currently dealing with crypto.

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