Cryptocurrencies are no longer included in the US list of risky assets

The Financial Stability Oversight Council (FSOC) has officially removed digital assets from its list of potential systemic risks. This decision marks a significant step in the regulatory policy of US regulators and could have a significant impact on the future of the cryptocurrency market in the US.

A Change in Regulatory Approach

The accompanying letter to the new FSOC report, signed by US Treasury Secretary Scott Bessint, emphasizes that the Council's decision is aimed at long-term economic growth, rather than identifying every theoretical "vulnerability." This signals a paradigm shift in cryptocurrency regulation, shifting the focus from identifying risks to supporting the sector's development.

Comparison with Previous Reports

This approach differs significantly from the 2022 FSOC report, which stated that cryptoasset transactions "may pose a threat to the stability of the US financial system." In the past, US regulators have expressed concerns аbout:

- Leverage
- The interplay between traditional financial and cryptocurrency markets
- Lack of unified oversight

The new FSOC report does not mention any overt systemic risks associated with digital assets. Instead, it emphasizes positive changes in the cryptocurrency industry, such as:

- A clearer regulatory framework
- Removal of warnings regarding bank interactions with the cryptocurrency sector

Recognizing the need for monitoring

Despite these positive changes, the FSOC acknowledges that US dollar-denominated stablecoins still require monitoring, particularly regarding potential misuse in illicit financial transactions. This language is significantly softer than those used in previous years, which may indicate a more measured approach to regulation.

Impact on the Cryptocurrency Market

Removing cryptocurrencies from the risky asset list could lead to increased interest from investors and financial institutions. Clearer regulations and the absence of rigid restrictions could foster innovation in digital assets and attract new market participants.

In Conclusion

The FSOC's decision to remove cryptocurrencies from the list of potential systemic risks is an important step toward a more balanced and constructive approach to digital asset regulation in the US. This could open new horizons for the development of the cryptocurrency industry and facilitate its integration into the traditional financial system. At the same time, the need to monitor stablecoins underscores the importance of safeguards to ensure financial stability.