Fed Ends Novel Activities Supervision Program for Crypto Oversight
The Federal Reserve has ended its Novel Activities Supervision Program, which was established in 2023 for oversight of banks involved in emerging technologies such as cryptocurrency and fintech. Key points include:
- Oversight will now be part of the Fed's regular supervisory processes.
- The program covered stablecoin issuance, tokenized securities, and services to crypto clients.
- The Fed expressed confidence in traditional methods to manage risks without hindering innovation.
Treasury Rules Out New Bitcoin Acquisitions for Strategic Reserve
US Treasury Secretary Scott Bessent announced that the government will not acquire new Bitcoin for its strategic reserve. Highlights include:
- The reserve will consist solely of confiscated Bitcoin, valued between $15 billion and $20 billion.
- Bessent stated future sales of these holdings will cease.
- Bitcoin prices dropped to $116,856 before stabilizing around $117,500 following the announcement.
Maxi Doge Presale Pumps Amid Friendly US Regulatory Stance
Amid regulatory changes, interest in Maxi Doge ($MAXI) is rising. Notable details are:
- The token offers staking incentives and gamified ROI contests.
- Presale price is $0.000252, with $1,015,360.41 raised towards a target of $1,083,483.84.
- Maxi Doge is attracting speculative traders with high-risk trading options.