#BTC Watch the latest video of Pi, showcasing the interaction between pioneers and local businesses during the first PiFest after the PiFest open network, highlighting the global and practical value of Pi! The images are shared by pioneers in the #PiFest channel of Pi's Web3 social media page, Fireside Forum. Continue interacting with local businesses that accept Pi, supported by external connections of the Open Network!

[Easing Crypto Regulations: The Federal Reserve and Other Institutions Withdraw Guidance Related to the Banking Sector]

The Federal Reserve announced on Thursday the withdrawal of regulatory guidelines regarding banks' cryptocurrency assets and dollar token businesses, while simultaneously updating the relevant business expectation standards. This move aims to ensure that regulatory requirements keep pace with evolving risks and further support innovation in the banking system. The announcement shows that the Federal Reserve officially repealed the regulatory letter issued in 2022, which previously required state member banks to report in advance on proposed or existing cryptocurrency asset businesses. After the repeal, the Federal Reserve will no longer require banks to fulfill reporting obligations, but will instead monitor related activities through regular regulatory procedures. Also repealed is the 2023 guidance document regarding the "no objection" procedure for state member banks participating in dollar token businesses. In addition, the Federal Reserve and the Federal Deposit Insurance Corporation jointly decided to withdraw from two policy statements regarding banks' cryptocurrency asset businesses and risk exposures, which were jointly issued by federal banking regulators in 2023. The Office of the Comptroller of the Currency had previously withdrawn from that statement. The Federal Reserve stated that in the future it will work with other regulatory agencies to assess whether there is a need to develop a new guidance framework to support innovation, including cryptocurrency asset businesses.

Federal Reserve support (cryptocurrency)

In May, the Federal Reserve's new monetary policy changed.

Dollar Token pi

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Home Update

The homepage reiterates (open network)

320——pi has already opened the network!

Why does today's homepage emphasize encouraging (local businesses) again? ~~~ The large-scale mainnet migration is about to start.

Homepage Update (pi in the ecological closed loop)

Old Four drives a speedboat 🚤