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Federal Reserve Eases Crypto Oversight for Banks, Rescinds Key Provisions
Federal Reserve Eases Crypto Oversight for Banks, Rescinds Key Provisions
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The Federal Reserve has withdrawn its 2022 Supervisory Letter requirements, which mandated banks to provide advance notice before engaging in cryptocurrency activities. This shift underscores the evolving regulatory landscape for digital assets in the U.S. "These actions ensure the Board’s expectations remain aligned with evolving risks and further support innovation in the banking system," the Fed stated.
U.S. regulators are now aligning with a more flexible approach, allowing banks to manage digital asset activities without pre-approval. The Fed joins other banking regulators in rescinding prior crypto guidance, signaling a broader trend toward reduced bureaucratic hurdles for institutional crypto participation.
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