{"id":127968,"date":"2025-04-25T13:21:53","date_gmt":"2025-04-25T13:21:53","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=127968"},"modified":"2025-04-25T13:21:53","modified_gmt":"2025-04-25T13:21:53","slug":"us-banks-are-free-to-begin-supporting-bitcoin-michael-saylor","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=127968","title":{"rendered":"US banks are \u2018free to begin supporting Bitcoin\u2019 \u2014 Michael Saylor"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin adoption among United States financial institutions could see a major boost after the US Federal Reserve withdrew its guidance discouraging banks from engaging with cryptocurrency.<br \/>\nOn April 24, the Fed withdrew its 2022 supervisory letter that served as guidance to deter banks from engaging in crypto and stablecoin activities. The withdrawal spurred a notable uplift in Bitcoin (BTC) investor sentiment.<br \/>\nThe Federal Reserve Board\u2019s withdrawal giving banks guidance on crypto activities. Source: Federal ReserveThe 2022 guidance initially warned that crypto may pose risks to investors and the stability of the US financial system.<br \/>\nThe Fed\u2019s move means that \u201cbanks are now free to begin supporting Bitcoin,\u201d said Michael Saylor, co-founder of the world\u2019s largest corporate Bitcoin holding firm, Strategy, in an April 25 X post.<br \/>\nSource: Michael SaylorThe Fed\u2019s decision \u201cis a significant development, as it will simplify the path to institutional adoption,\u201d according to Anastasija Plotnikova, co-founder and CEO of blockchain regulatory firm Fideum.<br \/>\n\u201cThe withdrawal of this particular guidance ensures that crypto assets will be overseen through standard supervisory processes,\u201d she told Cointelegraph, adding:<br \/>\n\u201cWe still need to have GENIUS and STABLE bills to be passed to further harmonize the crypto activities amongst Fed-supervised firms and other market participants. The combination of legislative effort will be the main driver behind the institutional adoption.\u201d<br \/>\nThe Stablecoin Transparency and Accountability for a Better Ledger Economy, or STABLE Act, passed the US House Financial Services Committee with a 32\u201317 vote on April 2. The bill aims to create clear regulatory guidelines for dollar-denominated stablecoins.<br \/>\nSource: Financial Services GOPThe GENIUS Act, short for Guiding and Establishing National Innovation for US Stablecoins, passed the Senate Banking Committee by a vote of 18\u20136 on March 13.<br \/>\nRelated: Trump fought the bond market, the bond market won: Saifedean Ammous<br \/>\nFed\u2019s shift marks end of us regulatory hostility<br \/>\nThe Federal Reserve\u2019s decision may be a \u201cmeaningful turning point\u201d for Bitcoin\u2019s institutional adoption in the US, according to Eneko Kn\u00f6rr, co-founder and CEO of Stabolut, a yield-bearing stablecoin project.<br \/>\n\u201cUp until now, US regulatory hostility made it virtually impossible for traditional financial institutions to participate in this space,\u201d Kn\u00f6rr told Cointelegraph.<br \/>\n\u201cWith the recent shift in the Fed\u2019s guidance, the door is finally open. This unlocks an enormous opportunity for banks \u2014 one that until now has been dominated by players like Coinbase and other crypto-native firms,\u201d Kn\u00f6rr added.<br \/>\nKn\u00f6rr added that banks are now likely to move quickly to meet client demand and retain market share previously captured by crypto-native firms like Coinbase.<br \/>\nRelated: Serbia\u2019s Prince Filip says Bitcoin is being stifled, expects huge rally<br \/>\nBitcoin adoption among financial institutions is also lagging in Europe, with less than 20% of European banks offering crypto services, despite the rising investor demand and regulatory clarity in the region.<br \/>\nMagazine: Bitcoin\u2019s odds of June highs, SOL\u2019s $485M outflows, and more: Hodler\u2019s Digest, March 2 \u2013 8<a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-adoption-us-federal-reserve-guidance-withdrawal-2025-saylor?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin adoption among United States financial institutions could see a major boost after the US Federal Reserve withdrew its guidance discouraging banks from engaging with cryptocurrency. On April&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127968"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=127968"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127968\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=127968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=127968"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=127968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}