US Senator Lummis: Federal Reserve's move to withdraw guidance on cryptocurrency regulation is just empty talk
According to online reports, Cynthia Lummis, U.S. crypto-friendly Senator and Chairman of the U.S. Senate Banking Digital Assets Subcommittee, issued a document on platform X saying that the Federal Reserve's withdrawal of guidance on cryptocurrency regulation yesterday was just empty talk because the Federal Reserve still continues to illegally flout the master account law. Unlike the OCC and FDIC, the Federal Reserve still has reputational risks in banking supervision, especially the Article 9 (13) policy statement in the master account law has not yet been withdrawn. The statement called Bitcoin and digital assets unsafe and unsound. More importantly, the Federal Reserve staff behind the crypto strangler Operation Chokepoint 2.0 are the same people currently handling crypto issues.
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