The Federal Reserve said on 15 Aug it will dismantle the Novel Activities Supervision Program, a 2023 initiative that imposed extra scrutiny on banks involved in cryptocurrencies, stablecoins and other fintech ventures. The central bank rescinded the supervisory letter that created the program and will instead monitor such activities through its standard examination process, stating it has now “strengthened its understanding” of the related risks and controls. The move follows similar steps by the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. earlier this year to withdraw special crypto guidance, signalling a broader shift among U.S. banking regulators toward treating digital-asset services under existing rules rather than bespoke regimes. Separately, in prepared remarks at a Wyoming blockchain conference on 19 Aug, Fed Vice Chair for Supervision Michelle Bowman said central-bank staff should be allowed to own “de minimis” amounts of crypto assets. Bowman argued that hands-on experience would help supervisors better police the sector and aid the Fed in recruiting and retaining technology-focused examiners. She added that banks may engage in digital-asset activities provided they meet ordinary safety-and-soundness standards, and said regulators should avoid using “reputational risk” to block lawful crypto services.