The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Federal Reserve’s Withdrawal of Crypto Guidance ‘Just Lip Service,’ Says Senator Cynthia Lummis – Here’s Why

by Mehron Rokhy
April 27, 2025
in Bitcoin, Regulators

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– alongside the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) – rescinded many guidelines and statements made toward how banks can conduct crypto activities.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 activities and related changes to its expectations for these activities.

These actions ensure the Board’s expectations remain aligned with evolving risks and further support innovation in the banking system.”

However, according to Lummis, the Fed’s actions are superficial because they still use reputation risk when supervising banks. Lummis also says the Fed hasn’t withdrawn the policy that deems Bitcoin (BTC) and crypto as unsafe and unsound. She also says the Fed openly disregards the law when it comes to crypto banks applying for master accounts, which is the record of the account holder’s financial rights and obligations with respect to the administering reserve bank.

Lastly, Lummis points out that the Fed still employs the same staff that tried to stifle the digital assets industry using regulations under the Biden Administration.

Last month, Lummis, alongside Republican Representative Nick Begich, introduced a landmark bill to use the top crypto asset by market cap as a strategic reserve asset. The bill was introduced after President Donald Trump signed an executive order to establish BTC as a reserve asset.

Follow us on X, Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Submit a Press Release

Industry Announcements

  • Reppo Launches World’s First Liquid Node Sale, Pioneering Decentralized Data Infrastructure
    May 20, 2025
  • BingX AI Evolution Begins: A $300M Vision to Build the Future of AI-Powered Crypto
    May 20, 2025
  • Imrat Group Gains Priority Access to New Product: Bybit Launches Direct Stock Trading via Tether Stablecoin
    May 20, 2025
  • THORChain Faces Legal Action Over $200 Million Collapse Amid Alleged Mismanagement and Insolvency
    May 19, 2025
  • Binance Alpha Is Changing the Web 3.0 Game
    May 16, 2025
  • NEXPACE Launches MapleStory N and NXPC Token, Charting a New Chapter for MapleStory Universe
    May 15, 2025
  • GSR Invests in Maverix Securities To Support the Launch of Regulated Digital Asset Structured Products
    May 15, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$105,329.22
$105,329.22
0.48%
Ethereum
$2,484.31
$2,484.31
0.82%
BNB
$645.28
$645.28
0.06%
Solana
$166.77
$166.77
1.6%
XRP
$2.34
$2.34
0.14%

Spotlight

  • Crypto Trader Says Bitcoin on Cusp of Price Discovery Phase, Sees Ethereum Attacking December Highs
    May 13, 2025
  • Quant Analyst PlanB Says New Bitcoin All-Time High Incoming With Sky-High Price Target in Its Sights
    May 13, 2025
  • $1,100 Ethereum Could Be Coming Before Real Rally Kicks Off, According to Benjamin Cowen – Here’s Why
    May 13, 2025
  • Fake CAPTCHA Scam Targets Millions of University Students With Unknown Malware: Report
    May 13, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl