Aug 15, 04:11 PM

Fed Ends ‘Novel Activities’ Crypto Oversight, Reverts to Routine Bank Supervision

The Federal Reserve Board said on Aug. 15 it will sunset its two-year-old “Novel Activities Supervision Program,” ending a system of heightened oversight that targeted banks’ involvement in cryptocurrencies, fintech partnerships and other emerging technologies. Introduced in August 2023 through supervisory letter SR 23-7, the program was designed to help regulators deepen their understanding of digital-asset risks and bank risk-management practices. The Fed now says it has gained sufficient knowledge and will fold monitoring of those activities back into its standard examination process, rescinding the 2023 guidance. Banks engaged in crypto custody, blockchain settlement or related services will again be assessed under routine supervisory schedules. The decision adds to a series of recent steps by U.S. regulators to integrate digital-asset oversight into mainstream banking rules after several years of stricter, stand-alone scrutiny.

#Federal Reserve Board #Fed

Written with ChatGPT .

Sources

Additional media

Image #1 for story fed-ends-novel-activities-crypto-oversight-reverts-to-routine-bank-supervision-9687937f

Image #2 for story fed-ends-novel-activities-crypto-oversight-reverts-to-routine-bank-supervision-9687937f

Image #3 for story fed-ends-novel-activities-crypto-oversight-reverts-to-routine-bank-supervision-9687937f

Image #4 for story fed-ends-novel-activities-crypto-oversight-reverts-to-routine-bank-supervision-9687937f

Image #5 for story fed-ends-novel-activities-crypto-oversight-reverts-to-routine-bank-supervision-9687937f

Image #6 for story fed-ends-novel-activities-crypto-oversight-reverts-to-routine-bank-supervision-9687937f

Image #7 for story fed-ends-novel-activities-crypto-oversight-reverts-to-routine-bank-supervision-9687937f

Image #8 for story fed-ends-novel-activities-crypto-oversight-reverts-to-routine-bank-supervision-9687937f

Image #9 for story fed-ends-novel-activities-crypto-oversight-reverts-to-routine-bank-supervision-9687937f

Image #10 for story fed-ends-novel-activities-crypto-oversight-reverts-to-routine-bank-supervision-9687937f

Image #11 for story fed-ends-novel-activities-crypto-oversight-reverts-to-routine-bank-supervision-9687937f

Image #12 for story fed-ends-novel-activities-crypto-oversight-reverts-to-routine-bank-supervision-9687937f

Image #13 for story fed-ends-novel-activities-crypto-oversight-reverts-to-routine-bank-supervision-9687937f

Image #14 for story fed-ends-novel-activities-crypto-oversight-reverts-to-routine-bank-supervision-9687937f

Image #15 for story fed-ends-novel-activities-crypto-oversight-reverts-to-routine-bank-supervision-9687937f

Image #16 for story fed-ends-novel-activities-crypto-oversight-reverts-to-routine-bank-supervision-9687937f

Image #17 for story fed-ends-novel-activities-crypto-oversight-reverts-to-routine-bank-supervision-9687937f

Image #18 for story fed-ends-novel-activities-crypto-oversight-reverts-to-routine-bank-supervision-9687937f

Image #19 for story fed-ends-novel-activities-crypto-oversight-reverts-to-routine-bank-supervision-9687937f

Image #20 for story fed-ends-novel-activities-crypto-oversight-reverts-to-routine-bank-supervision-9687937f

Fed Ends ‘Novel Activities’ Crypto Oversight, Reverts to Routine Bank Supervision

Sources

Additional media

Similar Stories