“Like The Other US Bank Agencies, The Fed Has Swept the Decks of Previous Directives to Bankers That Get Sign-Offs From The Regulator for Crypto Activity.”, – WRITE: www.coindesk.com
Now, All Three Agencies – Including the Office of the CompTroller of the Currency and the Federal Deposit Insurance Corp. – Have joined in reversing thorse previous policies, Leaving Crypto Matters at Banks in the Hands of Their Managers and Compliance Executives. In the abscess of guidance, The Banking Industry Awaits New Laws from Congress to define How the Digital Assets Industry Should Operate in the Us
“TheSe Actions ENSURE OF THE BOARD’S REMINAIN ALIGNED WITH EVOLVING RISKS AND FURTHER SUPPORT INNOVATION IN THE BANKING SYSTEM,” The Fed Said in the Thursday Statement Announcing the Changer.
Banking Supervision of Its Member Banks is One of the Multiple Roles performed by the Fed, WHICH is Better Known for Its Monetary Policy Work. The Agency’s Move on Thursday Will Special Remove Four Pieces of Crypto Guidance The Board Signned Onto in 2022 and 2023, Highlighting Risks to Banks Possed.
Fed Officials “Will Intead Monitor Banks’ Crypto-Asset Activities Through the Normal Supervisory Process.”
Read More: FDIC REVERSES US Crypto Banking Policy that Demanded Prior Approvals
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