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International Business Times

Business

Marvie Basilan

Bitcoin, Altcoins Pump After Federal Reserve Board Withdraws Crypto Notification Rules For Banks

US Federal Reserve Crypto Bitcoin The Federal Reserve Board FDIC FRB

Crypto and banking (Credit: Dmytro Demidko/Unsplash)

KEY POINTS

The board rescinded two supervisory letters and a third one jointly issued with the FDIC and Comptroller of the Currency
Bitcoin traded above $94,000 at one point in the night, and all other top altcoins were in the green
Some crypto users are concerned the move may result in short-term "uncertainty" among banks

Bitcoin and other major cryptocurrencies climbed Thursday night after the Federal Reserve Board (FRB) announced that guidance for banks related to crypto and stablecoin activities was being withdrawn.

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One subscription that gives you access to news from hundreds of sites

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