U.S. Senator Cynthia Lummis described the Federal Reserve's (Fed) August 2025 termination of the "Novel Activities Supervision Program" as a "major victory." Launched in 2023 during the Biden administration, the program specifically oversaw banks' crypto and fintech activities. The Fed has now announced it will integrate these activities into standard oversight processes. In a social media post, Lummis praised the decision, calling it a "major contribution to the end of Operation Chokepoint 2.0," and noting real progress toward a "level playing field" for the crypto sector. This move, consistent with the Trump administration's pro-crypto policies, could allow banks a more liberal approach to digital assets. This development signals a softening of US crypto regulations. For advocates like Lummis, while encouraging innovation, risk management remains critical. Even though the crypto industry is relaxed, the need for comprehensive legislation persists. With proposals like a Bitcoin strategic reserve, 2025 could be a turning point for crypto.