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The Fed is set to meet on May 30 to consider watering down the “Volcker Rule,” in what would be a major deregulatory move. The relaxing of the “Volcker Rule” would allow thousands of banks to make high risk profit-seeking trades with less government oversight.

If the Fed’s plans go ahead, increased systemic financial risk could well push citizens to conclude that “cryptocurrencies do a fundamentally better job as a safe depository,” Weiss analysts argue.

According to Weiss, banks are lobbying for more freedom to trade speculative assets such as derivatives, whose ownership is “extremely centralized.”

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