The Shift in Federal Reserve Oversight: What Lies Ahead for Crypto?
What has changed with the Federal Reserve’s oversight on crypto?
The Federal Reserve has decided to shut down its Novel Activities Supervision Program, a move that significantly alters its oversight of cryptocurrencies. This program previously required banks to notify the Federal Reserve before engaging in any crypto activities. As of now, such activities will be subject to standard banking supervision, which is far less stringent. This means banks can now engage with cryptocurrencies without prior notification, allowing for a more open approach to digital assets.
How does this affect the landscape for cryptocurrency engagement?
This reduction in oversight could lead to increased participation by banks in the crypto space. With the…
