美联储撤销加密监管禁令 XBIT虚拟币交易平台市场迎“松绑时代”

Core Viewpoint - The Federal Reserve's decision to revoke the 2022 regulatory guidance on banks' cryptocurrency and dollar token operations marks the end of the Biden administration's stringent regulatory policies, signaling a turning point for the U.S. cryptocurrency market towards relaxed banking services [1][6]. Group 1: Regulatory Changes - The "Choke Point 2.0" initiative began in 2022, requiring banks to report before engaging in cryptocurrency operations, effectively raising the industry's entry barriers [3]. - In 2023, major regulatory bodies further tightened controls by defining decentralized network assets as "inconsistent with banking safety standards" and introducing a "no objection" licensing process, granting regulators veto power [3]. - The tightening of policies was triggered by the systemic risk concerns following the collapse of the FTX exchange in 2022, leading regulators to attempt to isolate the cryptocurrency market by cutting off banks' funding channels [3]. Group 2: Impact of Policy Reversal - With the anticipated return of Trump in 2025, there has been a significant shift in cryptocurrency regulation, including new rules from the OCC allowing national banks to provide cryptocurrency custody and stablecoin reserve management without prior approval [5]. - The Federal Reserve's recent announcement to eliminate the reporting requirements for banks engaging in cryptocurrency business signifies the end of a three-year period of high-pressure regulation, reducing compliance barriers and legal risks [6]. - The policy shift is expected to enable banks to resume cryptocurrency services, improving fiat liquidity and accelerating the use of stablecoins in cross-border payments and DeFi applications [6][8]. Group 3: Future Outlook - The recent regulatory relaxations, combined with favorable actions from the Trump administration, such as SEC approval of altcoin ETFs and the appointment of pro-crypto officials, may lead to significant traditional capital inflows into the cryptocurrency market [8]. - Analysts predict that improved liquidity and regulatory transparency could drive Bitcoin to surpass historical highs, entering a "compliance development 2.0 phase" [8]. - Despite the positive signals from policy relaxations, the industry will still face challenges related to anti-money laundering (AML) and consumer protection, with future regulations likely focusing on "risk-based management" rather than blanket restrictions [8].