In 2019, cryptocurrency and blockchain businesses saw more regulation than any year prior. G20 finance ministers, central bank governors, and regulators cracked down hard on the bitcoin industry. However, during the covid-19 scare, U.S. authorities have been dropping regulations on a whim, making it easier on the financial sector. On March 22, the Federal Reserve revealed it would work with a group of regulatory agencies in order to give banks more leeway when it comes to modifying loan terms.

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What Are Regulations Good For? Absolutely Nothing

The overlords of the U.S. banking system have been doing a lot of unusual things lately to cope with a looming recession brought on by the coronavirus outbreak and forced economic shutdown. Nearly every day, President Donald Trump and the Federal Reserve have been making new announcements and radical changes.

On Sunday, the Fed alongside a slew of other U.S. regulators like the Office of…

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Source: https://news.bitcoin.com/coronavirus-bailouts-us-banking-watchdogs-waive-hundreds-regulations/