New banking rules in the US might push people to cryptocurrencies

The Federal Reserve is set to meet on May 30th to rewrite some of the Volcker rules that govern the conduct of banks. This has led Weiss ratings to claim that the new banking rules in the US might push people to cryptocurrencies. The agency believes Americans might feel the urge to purchase cryptos as security and they can help ride out any financial crisis.

The Federal Reserve is set to discuss changes of the Volcker rules which stop banks from engaging with volatile markets in hopes of profiting by making use of funds that are protected by the deposit insurance.
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