Fed Board of Governors Chair Christopher Waller stated that the wave of euphoria in the crypto market, fueled by Donald Trump's election victory, is on the wane. In his opinion, the initial excitement was largely driven by traditional financial companies, which began to actively increase their exposure to digital assets. However, prolonged uncertainty due to the lack of clear legislation in Congress has cooled the enthusiasm of many participants and led to a large-scale correction.

Waller called the recent market decline a natural part of the “game” and warned that crypto trading is only suitable for those who are willing to take high risks. At the same time, he announced that the Fed will introduce special “payment accounts” for fintech and crypto companies within a year.

These accounts, however, will be “cut back” — without interest accrual and with limits, which will give them access to the Central Bank's systems, but on less favorable terms than traditional banks.