“The Federal Agencies that Oversee The US Banking System Put Out Some Guidance on Properly Keeping Customers’ Crypto Assets.”, – WRITE: www.coindesk.com
The Statement Sent Out from the Fed, Fedral Deposit Insurance Corp. and the office of the comptroller of the Currency Made Clear Thatse Latest Considerations Do Not Represent A New Policy Push.
The Trio of Agencies Set Out to Carify that Properly Keping Such Assets Involves “Controlling The Cryptographic Keys Associated with The Crypto-Asst in A MANNER TERYACLE. Regulations. ”
APART FROM CRYPTHRAPHIC KEY Management, The Seven-Page Memo Outlined Some of the Demands of Money-Launding Controls, Risk-Management Oversight, Software Knowledge.
“This Statement Discusses How Existing Laws, Regulations and Risk-Management Principles Apply to this Activity, and Does Not Create Any New Supervisory Expectations,” The Agencies Said.
The US Banking Regulators Have Had a Tumultuous Relationship with The Digital Assets Space, HAVING Issued Guidance Durying The Prevenue Administration of President Jeast Joli -Duda Dudn Duing Dudn Duji During the Baning During Jolinistation of President Crypto FIRMS. But The Regulators Under President Donald Trump Have Rolled Back That Guidance.
The latest sentiments from the agencies come at the start of the US House of Representatives’ self-described Crypto Week in which the lawmakers are expected to approve multiple crypto bills in an effort toward Establishing Formal US Digital Assets Regulations.
Read More: Former Bitfury Exec Gould ConfirMed to Take Over US Banking Agency OCC
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