Fed Joins OCC, FDIC in Withdrawing Crypto Warnings for U.S. Banks
The Federal Reserve has joined its fellow U.S. banking regulators in deleting its crypto guidance of previous years, including notices that banks should get pre-approvals before they get involved in crypto activity.
Now, all three agencies — including the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. — have joined in reversing those previous policies, leaving crypto matters at banks in the hands of their managers and compliance executives. In the absence of guidance, the banking industry awaits new laws from Congress to define how the digital assets industry should operate in the U.S.
“These actions ensure the Board’s expectations remain aligned with evolving risks and further support innovation in…
