#美国就业数据表现强劲超出预期 $BTC $ETH $ZEC

An important turning point in regulatory attitude has just emerged — the Federal Reserve has sent a clear signal: the US banking system is now permitted to directly serve legitimate cryptocurrency clients. This is not a rumor, but a substantive policy change.

For a long time, crypto assets have not been legally prohibited, but in practice, they have been in a gray area. Banks have avoided this field to mitigate risks, leading to difficulties in deposits and withdrawals, limited liquidity, and fragmented user experience. This invisible wall is now being dismantled.

What has changed in what banks can do

The current policy framework allows banks to perform several key operations:

Direct custody of crypto assets — clients’ digital assets can be securely stored like traditional securities.

Establish business relationships with crypto companies — banks no longer need to worry about the identity of their partners.

Develop financial products based on cryptographic technology — opening up space for innovation.

What does this mean? It means "compliance" has transformed from a firewall into a passage.

The logic of accelerated capital flow

What will happen when obstacles are removed? History has repeatedly proven: capital will accelerate into the market.

Institutional investors have been waiting for signals — they don’t need enthusiasm, only certainty. Now the signal is here. High-net-worth individuals, corporate finance, pension funds — these large pools of capital within traditional financial systems, which previously found it difficult to participate due to deposit, withdrawal, and custody restrictions, now have a formal channel.

This is not a virtual concept. Data from a leading exchange shows that whenever regulation becomes clearer, institutional net inflows significantly increase within weeks. This time, the policy signal is even stronger, suggesting that liquidity growth could be greater.

The staircase adoption path has already been laid out

The large-scale adoption of Bitcoin and crypto assets follows a predictable path:

Bank-level approval → Large influx of institutional funds → Corporate allocations → National-level considerations

We are now at the transition from the first to the second stage. Bank participation means a significant reduction in capital costs and trust costs, which directly accelerates the progress of the second and third stages.

Interestingly, this is not policymakers "promoting" Bitcoin — but removing artificial barriers. When the cost of market participation shifts from "not allowed" to "allowed," re-evaluation often happens automatically, without calls to action.

Infrastructure status check

Some may ask: Is the infrastructure mature? The answer is: key parts are already in place.

Custody solutions already exist — from traditional institutions like Fidelity to specialized crypto custodians, solutions are plentiful.

Risk management tools are mature — on-chain data analysis, market microstructure research, these are no longer new.

The compliance framework is being standardized — every major financial center is refining its regulatory framework for crypto assets, and the recent policy adjustment in the US is just a microcosm of the global trend.

Signals of capital gathering

Another layer of policy shift is a change in psychological expectations. When large asset management firms see regulators no longer imposing barriers, they will reassess risk-reward ratios. Bitcoin shifts from an "extreme asset" to an "option for diversified portfolios," and this mindset change will lead to substantial capital movement.

Every major crypto market rally in history has been accompanied by some form of "legitimacy confirmation" — whether through national recognition, institutional participation, or regulatory clarity. This time, the policy signal reinforces the latter two.

Reality is changing

In recent years, the crypto market has often been in a state of "waiting" — waiting for clearer regulation, waiting for large funds to enter, waiting for applications to land. Now, one of the most critical waits has ended.

The participation of the banking system is not only about broadening financial channels but also about integrating trust systems. As the boundaries between traditional finance and crypto assets become blurred, market valuation logic will also adjust accordingly.

What to watch next? Capital flows. In the early stages of policy shifts, there is often a time window during which early participants can acquire risk exposure at relatively rational prices. How long this window lasts depends on the speed of market perception dissemination.

In simple terms: policy is clear, infrastructure is ready, capital is gathering. This is not speculation — it is an unfolding reality.