Auto News

The American Fed recognizes the value of cryptocurrencies!

What if America’s largest bank is about to integrate cryptocurrencies? The growing adoption of digital assets is causing central banks to rethink their stance on Bitcoin and decentralized cryptocurrencies. After controversial statements, the Federal Reserve (FED) of the United States makes a very surprising statement.

Would the Federal Reserve Give the Green Light to Cryptocurrencies?

Central banks have never hidden their hostility towards crypto assets. Indeed, many leaders questioned the value of the latter and claimed to favor the traditional financial system. If the Fed has long been of that opinion, the tide seems to be turning.

After a statement that sent the cryptocurrency market crashing, the Federal Reserve is making another exit recognize value of digital assets. She says they represent opportunities for customers, banks and the entire financial system. This is completely surprising, but not so much when we know that bitcoin (BTC) is slowly but inexorably integrated into traditional finance.

A tough year for digital assets

The evolution of cryptocurrencies is under severe test. Adoption of digital assets is always risky. However, numerous interventions by the FED had a devastating effect on the course of the latter. Indeed, the Federal Reserve’s hawkish stance sent bitcoin (BTC) down to its lowest level since August 10.

After peaking at $25,200 on August 25, the crypto major is currently trading at $21,225. If the US Fed sticks to its guns and continues the conversation, it will have a job to convince other banks that cryptocurrency adoption is justified.

According to a report of DecryptThe Fed could approve ledger accounts to certain trading platforms. But for now, it’s all just words. One can only hope that the Federal Reserve will take action and finally integrate cryptocurrencies.

Receive a digest of news from the world of cryptocurrencies by subscribing to our new service newsletter daily and weekly so you don’t miss any of the important Cointribune!

Eddy Senga's avatar
Eddy Seng

The world is changing and adaptation is the best weapon to survive in this wavy universe. As a manager of the crypto community at the base, I am interested in everything directly or indirectly related to the blockchain and its derivatives. To share my experience and spread the word about a field that fascinates me, nothing better than writing informative and relaxed articles at the same time.

Related Articles

Back to top button