The article discusses the impending shift in regulatory attitudes towards digital assets as the Federal Reserve and the Office of the Comptroller of the Currency respond to President Trump's support for the $3.5 trillion crypto industry. With expectations that major banks like JP Morgan and Bank of America will soon offer basic crypto services, optimism grows amidst Trump's push to reverse Biden-era restrictions. This regulatory shift could further boost crypto asset prices, especially Bitcoin, which has seen significant recent gains due to changing perceptions and market dynamics.
I expect banking regulators to get on board with the administration's newfound approach to crypto and we will see banks enter the space at a rapid pace.
Blockchain technology can lead to a dramatic increase in banks' ability to service customers and to comply with regulations.
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