A significant shift may occur in Washington affecting cryptocurrencies, with a potential Trump order on crypto banking rules.
Will Trump's Order Overturn Anti-Crypto Rules?
According to sources, Trump's expected order aims to address and potentially change current restrictive crypto banking rules, opening up traditional banking services for crypto firms facing regulatory challenges.
Impact on Bank Access and the Federal Reserve
The main appeal of the order is facilitating crypto companies’ access to banking services and Fed payment systems, which could reduce transaction costs and increase trust in the industry.
Federal Reserve's Independence: A Hurdle?
While the order may set a policy direction, the Fed remains independent and might not be directly influenced, limiting the order's capacity to enforce changes in its policy.
Trump's potential order could mark a significant prospect for the crypto industry, but its real implementation and impact on the independent Federal Reserve remain to be seen.
