The Federal Reserve cancels the "reputation risk" in bank reviews, or helps banks serve the cryptocurrency industry

According to The Block, the Federal Reserve announced that it will remove "reputation risk" from its banking review criteria and instead use more specific financial risk indicators for assessment. This adjustment aims to provide clearer guidelines for banking regulation and may also enable banks to better serve digital asset companies and other participants in the cryptocurrency industry, as the industry has previously complained that "de banking" has hindered the development of cryptocurrency in the United States. The Federal Reserve emphasized in its statement that this move does not change the basic requirements for bank risk management, but will provide clearer regulatory guidance. Wyoming Senator Cynthia Loomis called it&34; Stage Victory&34; At the same time, it is pointed out that further efforts are needed to promote policy improvement. This decision aligns the regulatory standards of the Federal Reserve with those of the Office of the Monetary Authority (OCC) and the Federal Deposit Insurance Corporation (FDIC).