💥Is the Federal Reserve stepping in to save the situation? A "streamlined main account" to be launched by the end of the year, but cryptocurrency regulation is still at a standstill.
Federal Reserve Chairman Waller officially announced plans to implement a simplified version of the main account by the end of the year — no interest on balances, cannot use the discount window, and limited to maximum use, solely to alleviate the discrepancies in the access of non-traditional financial institutions to the payment system and to fill the gap in cryptocurrency regulation.
At the same time, the long-awaited "Clarity Act" in the crypto community has completely stalled, with Senate progress halted and the regulatory division between the SEC and CFTC still unclear. Waller candidly stated that the "euphoria" in the crypto community has faded since Trump took office, with BTC dropping from 126,000 to 70,000, indicating that the market downturn is closely related to regulatory ambiguity.
On one side is the temporary replacement of the "streamlined account," and on the other is the indefinite wait for comprehensive regulation. How much longer will the cryptocurrency industry have to endure?
