Key Notes
The Federal Reserve has decided to terminate its specialized supervision program for cryptocurrencies, having acquired a comprehensive understanding of the risks associated with digital assets in the banking industry. Treasury Secretary has confirmed that the strategic reserve for Bitcoin will solely consist of confiscated assets estimated to be worth between $15 to $20 billion, dismissing the notion of new government purchases. Following the Treasury’s statements, Bitcoin’s price briefly dipped to $116,856 before rebounding to $117,500 as regulatory clarity begins to take shape.
Federal Reserve Ends Specialized Crypto Oversight Program
On Friday, the Federal Reserve officially announced the conclusion of its Novel Activities Supervision Program, which was initiated in 2023 to strengthen monitoring of banks involved in cutting-edge technologies such as cryptocurrency, distributed ledger technology (DLT), and intricate fintech collaborations. The Fed indicated that the oversight of these activities will now be incorporated into its usual supervisory framework, which it believes is capable of effectively identifying and addressing risks. The program was originally intended to oversee actions like stablecoin issuance, tokenized securities, API-based banking partnerships with non-bank entities, and services for crypto-related clientele. Fed officials had engaged academic and industry experts to ensure that supervision effectively balanced innovation with stability. The Fed’s decision reflects its growing confidence in conventional supervisory methods to manage risks while allowing for advantageous technological advancements in the banking sector.
Treasury Rejects New Bitcoin Purchases for Strategic Reserve
The Federal Reserve’s announcement followed closely on the heels of comments made by U.S. Treasury Secretary Scott Bessent, who stated during a Fox News interview that the government will not be acquiring additional Bitcoin for its planned strategic reserve. He clarified that this reserve will exclusively be composed of confiscated Bitcoin assets, currently valued between $15 billion and $20 billion, and reiterated a commitment to cease future sales of these holdings. Bessent described this decision as part of a larger “store of value” initiative, emphasizing that while gold reserves will remain unchanged in value, Bitcoin is being positioned as a contemporary counterpart to U.S. reserves. Following his statements, Bitcoin experienced a short-lived drop to $116,856 on Friday before regaining stability around $117,500, based on CoinMarketCap data. With the Federal Reserve easing regulatory constraints on banks, a surge in corporate Bitcoin adoption is anticipated to accelerate as August 2025 approaches.
Maxi Doge Presale Gains Momentum Amid Positive US Regulatory Environment
As the cryptocurrency markets digest the Fed’s relaxation of oversight and the Treasury’s position on Bitcoin reserves, potential investors are also turning their attention to Maxi Doge ($MAXI). This meme token is gaining traction by offering staking rewards, gamified return on investment contests, and partnerships with futures platforms, making it an attractive choice for traders looking to diversify into newly launched crypto assets. Currently, Maxi Doge is trading at 1000x leverage with no stop loss, drawing in short-term speculative traders in search of high-risk, high-reward trading opportunities. Priced at $0.000252, the presale has successfully raised $1,015,360.41 out of its $1,083,483.84 goal. With only hours remaining before the next price increase, interested parties are encouraged to visit the official Maxi Doge website to participate early.
Disclaimer
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