Federal Reserve’s Withdrawal of Crypto Guidance ‘Just Lip Service,’ Says Senator Cynthia Lummis – Here’s Why
Republican Senator Cynthia Lummis of Wyoming says that the Federal Reserve withdrawing its crypto guidelines for banking institutions is just “lip service.”
In a new thread on the social media platform X, the pro-crypto legislator says the Fed’s recent actions are largely just for show due to several factors.
Earlier this week, the Fed – alongside the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) – rescinded many guidelines and statements made toward how banks can conduct crypto activities.
As stated by the Fed at the time,
“The Federal Reserve Board on Thursday announced the withdrawal of guidance for banks related to their crypto-asset and dollar token…
