Navigating the New Crypto Regulatory Landscape: Implications for Startups
The Federal Reserve has officially shut down its specialized oversight program for cryptocurrency. This is a big change, my friends. It signals that they’re becoming more comfy with crypto coexisting alongside traditional banking. But let’s not kid ourselves; there are both bright spots and pitfalls ahead for crypto startups, especially in Asia.
The Fed’s Oversight Program: What It Was
Back in 2023, the Federal Reserve kicked off this oversight program to keep tabs on U.S. banks involved with crypto and fintech. Banks had to give a heads-up to the Fed before getting into crypto custody, stablecoin issuance, or tokenization. But now? They’ve decided to roll those activities back into their standard supervisory process. This means…
