U.S. Senator Lummis criticizes The Federal Reserve (FED) for its encryption bank regulatory policies

GateNews

2025-04-25 21:16:44

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According to the Gate.io News bot, Senator Cynthia Lummis has questioned the recent actions of The Federal Reserve (FED) in withdrawing some guidelines related to Crypto Assets. Lummis pointed out that the FED’s practice of setting obstacles for crypto banks in the main account application process is a violation of the law, and that it employs a reputation risk standard during the regulatory process. She also emphasized that the FED has not retracted the policy statement of “Article 9(13),” which classifies Bitcoin and digital assets as “unsafe and unsound” assets.

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