Fed Ends Crypto Oversight Program as Treasury Rules Out New Bitcoin Buys
Key Notes
- Federal Reserve discontinues specialized crypto supervision program after gaining sufficient understanding of digital asset risks in banking sector.
- Treasury Secretary confirms Bitcoin strategic reserve will use only confiscated assets worth $15-20 billion, rejecting new government purchases.
- Bitcoin briefly dropped to $116,856 following Treasury comments before recovering to $117,500 as regulatory clarity emerges.
The Federal Reserve announced Friday it has officially ended its Novel Activities Supervision Program, a framework established in 2023 to enhance oversight of banks engaged in emerging technology sectors like cryptocurrency, distributed ledger technology (DLT), and complex fintech…
