The American crypto environment was given a significant injection today with a wave of regulatory updates that could lead to wider acceptance. Reports have come from sources that new regulations are being planned to relax limits on banks working with cryptocurrencies, enabling them to wade into the pool of digital assets without seeking regulatory approval first. Meanwhile, the interim head of a major financial regulator has told officials to drop a plan that would have increased scrutiny of alternative trading venues, some of which are crypto companies.
The changes mark a turning point for an industry that’s frequently butted heads with regulators. Crypto proponents have long claimed that too tight regulations crush innovation. Now, with recession on the horizon and international competition intensifying, America appears more than willing to welcome digital currencies instead of spurning them. Eurozone leaders have even warned that this pro-crypto turn could undermine their own financial infrastructure. For retail investors, it could translate to more choices and mainstream acceptance of crypto trading. Is this the beginning of an American golden age for digital currencies? Only time will tell, but today’s news has the community abuzz
