**Breaking News: Federal Reserve Rolls Back Anti-Crypto Policy šØ**
The Federal Reserve has made a significant move by withdrawing its 2023 guidance on crypto-related activities for uninsured banks š¢
This development is crucial because the 2023 guidance was used to deny Custodia Bank a Fed master account and restricted what state-chartered, Fed-supervised banks could do with digital assets.
**What Does This Mean?**
The withdrawal of this guidance removes a key regulatory hurdle that previously prevented crypto-friendly banks from participating in the market ā”ļø
A new framework is being introduced to promote "responsible innovation" while ensuring banking stability š¢
This shift does not automatically grant approval for crypto banks but opens up possibilities for their participation in the financial system š
**What's Next?**
The Federal Reserve's decision has significant implications for the crypto market, and its effects will likely be felt in the coming days and weeks ā”ļø
