Federal Reserve ends crypto supervision program for banks
- The Federal Reserve closed its supervision program on certain crypto activities in banks.
- The agency claims it rescinded a 2023 supervisory letter initiating the program and will return to its normal monitoring process.
- The move follows the Fed’s statement in July clarifying that banks can custody crypto for customers.
The Federal Reserve (Fed) ended its Novel Activities Supervision Program that monitored crypto activities in banks, with plans to resume its normal supervisory process, according to a statement on Friday.
Fed ends supervision of crypto activities in banks
The Federal Reserve Board announced in a statement on Friday that it has ended its program that monitors banks engaged in crypto activities.
The Board…
