FED may allow U.S. banks to use digital assets via Atlas21 report.

FDIC prepares for a turning point: U.S. banks may enter the digital asset market U.S. federal agencies are preparing to revise rules that previously prevented banking institutions from entering the cryptocurrency sector.

the U. S. Federal Deposit Insurance Corporation (FDIC) is preparing to change its rules to allow banks to work with #cryptocurrencies . To allow banks to work with cryptocurrencies. The changes follow the release of 790 pages of internal documents that show how banking institutions have systematically discouraged entry into the #cryptocurrency market in the past. FDIC Interim President Travis Hill has publicly acknowledged that the FDIC has resisted in the past. The documents we're releasing today show that these requests from banks have been met with resistance almost without exception, from repeated requests for more information, to months of silence while financial institutions waited for a response, and even to regulators' refusal to suspend, delay or expand any cryptocurrency and blockchain-related activity. Authorities have even ordered them to suspend, delay or refrain from expanding all cryptocurrency and blockchain-related activities. Caitlin Long, CEO of CustodiaBank, spoke about several cases of pressure from the FDIC. the new FDIC position will allow banking institutions to operate in the cryptocurrency sector without requiring prior regulatory approval. Bank of America CEO Brian Moynihan recently confirmed that banks are willing to actively participate in the digital asset market if the regulatory framework allows them to do so. Read us at: Compass Investments #Crypto2024 #InvestSmart #MarketInsights