
Jakarta, Pintu News ā The US Federal Reserve recently announced the removal of the reputational risk factor in its banking examination program. The move comes after the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) also removed similar factors from their examination criteria.
This change is expected to open up opportunities for banks in the US to more freely offer crypto-based services to their customers.
Previously, many financial institutions were reluctant to engage in crypto services due to concerns about reputational risks. However, with this policy change, it is expected that there will be an increase in crypto products offered by financial institutions in the US.
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Minutes after the announcement, crypto prices experienced significant gains. Bitcoin recorded a 5% increase in a day, while Ethereum jumped 10%, approaching the $2,500 mark. Data from CoinGecko shows that Cardano , Solana (SOL), Binance Coin , and Ripple also recorded impressive gains.
This rise comes after the crypto market suffered a fall due to the US airstrikes on Iranās nuclear installations, which previously led to the liquidation of over $1.1 billion. However, with the Federal Reserveās policy change, the crypto market is bullish again with the global market capitalization rising nearly 3% to $3.3 trillion.
Also read: Bitcoin price rises dramatically, Trump declares āTime to Peaceā!

Last week, the Federal Reserve decided not to cut interest rates, which disappointed investors. However, Federal Reserve Governor Christopher Waller stated that a rate cut is possible in July.
This could potentially trigger further gains in digital assets. This policy is expected to provide a positive boost to the crypto market, especially if major banks in the US start launching crypto products in response to the Federal Reserveās change in supervision policy.
The removal of reputational risk factors by the Federal Reserve marks a new chapter in the relationship between traditional banking and the crypto sector. With this move, it is expected that there will be more innovations and financial products involving crypto, which will not only increase the adoption but also the overall stability of the crypto market.
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*Disclaimer
This content aims to enrich readersā information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an assetās past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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