FIT21 hearing on May 6 could formalize U.S. crypto market structure before summer recess
The crypto industry is seeing fresh regulatory momentum this week. Tony Edward, host of the Thinking Crypto Podcast, emphasized the Federal Reserve’s rollback of restrictive policies that once limited banks’ involvement with crypto assets.
Edward described the move as putting the industry “80% of the way” toward full mainstream adoption.
On Friday, the Fed, along with the OCC and FDIC, officially rescinded guidance that discouraged banks from working with crypto firms. Given the Fed’s central role in banking oversight, this move has attracted industry-wide commendation. Senator Tim Scott praised the move as a reversal of “harmful Biden-era guidance.”
Related: Saylor Declares Victory as Fed Removes Major Hurdle Between Banks & Bitcoin
However, Senator Cynthia Lummis offered a more cautious take. While acknowledging…
