Fed Drops Crypto Reporting Mandate for US Banks—No More ’Draconian’ Oversight

In a surprise move, the Federal Reserve just axed its controversial requirement forcing banks to report cryptocurrency transactions. The rule—once branded as overreach by crypto advocates—quietly vanished from the Fed’s regulatory playbook this week.

Goodbye, Red Tape

Banks can now engage with digital assets without notifying regulators for routine activities. The shift signals a rare regulatory retreat in an era of tightening financial surveillance (unless, of course, you’re a small-time trader—then the IRS still wants every receipt).

Wall Street’s Crypto Playground

The move clears fog for institutional players diving into crypto custody and trading. No more bureaucratic hurdles—just pure, unfiltered capitalism. Because if there’s one thing banks love, it’s fewer rules and more profit vectors.

Regulators giveth, and regulators taketh away. This time, crypto wins—until the next ’risk review’ conveniently coincides with a market crash.