One picture to understand the framework and capital requirements of the US banking system! By the way, many brothers have asked me, does Bank of America currently support cryptocurrency related businesses? In fact, on March 28th, the Federal Deposit Insurance Corporation (FDIC) in the United States issued a policy statement regarding banks' participation in cryptocurrency business. The core adjustment of this document is that banking institutions no longer need to submit applications or wait for approval to the FDIC in advance, but only need to ensure that risk control measures are in place to independently carry out cryptocurrency business within the scope of compliance. This policy adjustment mainly opens up three key areas: The first is the custody of encrypted assets. Banks can help users securely store cryptocurrencies such as Bitcoin and Ethereum, just like storing gold, completely solving the risk of exchange crashes. The second is to hold stablecoin reserves. Banks can legally provide financial reserve support for stablecoins such as USDT and USDC, making these stablecoins more compliant and secure. The third is encrypted payment services. In the future, it is possible to transfer Bitcoin directly from a bank account, or even make cryptocurrency payments at any time like PayPal. The most crucial change is that banks no longer need to apply to the FDIC to carry out these businesses! It is equivalent to changing from the original approval system to a filing system, and even without filing, as long as it meets the basic risk management requirements, it can be directly launched. In the coming years, there may be: ① Banks directly provide encrypted accounts and payment services ② A large number of compliant stablecoins issued by banks have emerged ③ Deep integration of traditional banks and decentralized finance This article is sponsored by Gateio | @ Gateio_zh