• bitcoinBitcoin (BTC) $ 101,859.00
  • ethereumEthereum (ETH) $ 3,421.19
  • tetherTether (USDT) $ 0.999756
  • xrpXRP (XRP) $ 2.39
  • bnbBNB (BNB) $ 955.42
  • solanaWrapped SOL (SOL) $ 154.02
  • usd-coinUSDC (USDC) $ 0.999791
  • staked-etherLido Staked Ether (STETH) $ 3,418.83
  • tronTRON (TRX) $ 0.295688
  • dogecoinDogecoin (DOGE) $ 0.170582

Sen. Lummis Pushes US Regulator to Finalize Open Banking Rule Backing Crypto

The Senator warned banks have weaponized account access against crypto firms, urging the CFPB to finalize the rule “as soon as possible.”

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💡 DMK Insight

Banks are tightening their grip on crypto firms, and here’s why that matters: this isn’t just a regulatory hiccup; it’s a potential game-changer for liquidity. If banks are using account access as leverage, we could see a significant slowdown in crypto transactions, especially for firms that rely on fiat on-ramps. This could lead to increased volatility in crypto prices as liquidity dries up. Watch for how major players like Coinbase or Binance respond—if they start facing account access issues, it could trigger a sell-off. On the flip side, this could also create opportunities for decentralized exchanges (DEXs) as traders seek alternatives. Keep an eye on Bitcoin’s support around $25,000; a breach could signal a broader market downturn. The CFPB’s actions could take time, but the immediate impact on market sentiment is worth monitoring closely.

📮 Takeaway

Watch Bitcoin’s support at $25,000 closely; any breach could signal increased volatility as banks tighten access for crypto firms.

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