The Crypto Industry is Seeing Fresh Regulatory Momentum This Week

The crypto industry is seeing fresh regulatory momentum this week. Tony Edward, host of the Thinking Crypto Podcast, emphasized the Federal Reserve's rollback of

The crypto industry is seeing some fresh regulatory momentum this week, with the Federal Reserve rolling back restrictive policies that limited banks’ involvement with crypto firms, says Thinking Crypto's Tony Edward.

This move, which also saw the OCC and FDIC officially rescind their guidance, puts the industry "80% of the way" toward full mainstream adoption, the host said.

“It’s a foundational change. We’re going to see broader-level Congress legislation with the Stablecoin bill and the Market Structure bill, which the President will hopefully sign into law.”

Senator Warns of Lingering Access Barriers

While the move drew praise from figures like Senator Tim Scott, who described it as rolling back “harmful Biden-era guidance,” Senator Cynthia Lummis offered a more measured take.

“Great to see the FDIC, OCC & Fed today officially rescind their 2023 guidance on bank participation in digital asset activities. But the Fed continues to limit the participation of institutions in its master accounts and impose overreaching standards of ‘reputation risk.’ ”

Despite the new guidance, which the crypto industry had been eagerly anticipating, Edward believes it heralds a pivotal shift.

NASDAQ Proposes Four-Tiered Asset Class Framework to SEC

In a separate development, NASDAQ is proposing a four-tiered classification system for digital assets in a new letter to the SEC, which Edward described as "incredibly bullish."

The four proposed asset classes are:

The move comes as the SEC prepares to introduce new regulations for crypto firms operating in the U.S.

New SEC Chair Paul Atkins also recently spoke about the need for a tailored approach to crypto regulation, adding that the agency is working closely with Congress and the Trump administration on this front.

Bitcoin Whales Accumulate Ahead of Further Gains

On the market side, Edward highlighted fresh on-chain data from Santiment showing a sharp rise in wallets holding 10 or more BTC.

This suggests that whales are accumulating ahead of further price gains, which is bullish for Bitcoin in the long term.

With Bitcoin trading above $95,000, the bullish momentum remains intact, although a pullback is likely soon due to overbought RSI levels, he said.

“Have your profit-taking plan in place,” Edward advised. He noted that historical trends suggest May could bring significant gains before a possible June cooldown.

Edward also reported that Semler Scientific (NASDAQ:SCPL), a health tech company, has purchased an additional $10 million in Bitcoin.

This brings Semler's total Bitcoin holdings to over 3,300 BTC, valued at roughly $300 million. The company is known for its involvement in developing diagnostic and treatment technologies.

The latest purchase follows a previous investment of $25 million in December, signaling the company's interest in diversifying its treasury assets into crypto.

Health Tech Firm Semler (SCPL) Buys Another $10 Million in Bitcoin

Semler Scientific (NASDAQ:SCPL) has made a significant investment of an additional $10 million into Bitcoin (BTC), bringing the total to over 3,300 BTC, valued at approximately $300 million.

The company, which specializes in health technology, disclosed the investment in a recent Form 8K filing with the Securities and Exchange Commission (SEC).

Earlier this year, Semler disclosed an initial investment of $25 million in December 2023 in a Form 8K filing on January 3, 2024.

Semler is known for its involvement in developing diagnostic and treatment technologies. The company's interest in diversifying its treasury assets into crypto is evident with this latest purchase.

The investment in Bitcoin signals a broader trend among companies to allocate a portion of their treasury assets into alternative investments, particularly in the cryptocurrency market.

As the crypto industry continues to evolve and gain mainstream attention, more companies are venturing into this asset class to hedge against inflation and maximize returns on their assets.

Health tech company Semler Scientific (NASDAQ:SCPL) has disclosed an additional purchase of $10 million in Bitcoin (BTC).

This brings Semler's total Bitcoin holdings to over 3,300 BTC, valued at roughly $300 million.

The investment was reported in a Form 8K filing with the Securities and Exchange Commission (SEC) on Friday. Earlier this year, Semler disclosed an initial investment of $25 million in December 2023, which was disclosed in a Form 8K filing on January 3, 2024.

Semler Scientific is a health technology company focused on developing diagnostic and treatment technologies. The company is known for its involvement in creating new solutions for critical health needs.

Semler's interest in diversifying its treasury assets into crypto is evident with this latest investment.

Companies like Strategy (formerly MicroStrategy) and Block have been actively deploying portions of their