Fed Pulls the Plug: Banks Free to Ramp Up Crypto Activity Without Oversight
Breaking the chains—or inviting chaos? The Federal Reserve just axed its specialized crypto supervision program for banks, effective immediately. No more babysitters for digital asset dealings.
Wild West banking reloaded
With zero Fed oversight, expect banks to dive headfirst into crypto custody, trading, and yield products. JPMorgan’s blockchain division probably popped champagne at the news.
Risk management? That’s so 2024
The move comes as Bitcoin flirts with $90K—proving once again that regulators only care about ‘protecting investors’ during bear markets. Now watch every too-big-to-fail bank suddenly discover their ‘long-term belief in blockchain technology.’
One cynical prediction: First major crypto-related bank collapse hits before 2026. Bonus points if it’s wrapped in a tokenized security offering.
