US Fed to soften tough stance on digital assets after Donald Trump fully embraces crypto: Wall Street analysts | Stock Market News
Source: Live Mint
The US Federal Reserve and the Office of the Comptroller of the Currency – the nation’s top banking regulators — will soon loosen their tough stance when it comes to digital assets now that President Trump has fully embraced the industry, On The Money has learned.
Officials at the nation’s top banks, namely JP Morgan and Bank of America, are growing more optimistic that regulators will soften their long-held anti-crypto stance. They expect to be providing even basic services to crypto clients such as holding digital assets in custody, even buying bitcoin exchange-traded funds at their branches.
The change in sentiment at the bank’s top overlords all began with President Trump’s courting of the $3.5 trillion crypto business and its top executives, and promising to end the Biden-era regulatory assault on the industry, Fox Business’s Eleanor Terrett reports.
Trump Media and Technology Group Corp. applied to trademark brands for six investment products that track Bitcoin and the US manufacturing and energy sectors. These themes are US President Donald Trump’s priorities in office. The company has yet to file for all six products with the US market regulator, the US Securities and Exchange Commission (SEC).
The money-losing social media company is looking to debut the “Truth.Fi Made in America ETF,” “Truth.Fi US Energy Independence ETF” and “Truth.Fi Bitcoin Plus ETF,” along with three other vehicles called separately managed accounts with the same themes on its recently announced Truth.Fi financial platform, subject to regulatory approval.
