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US Fed Agencies Urge Stronger Risk Controls for Banks in Crypto Custody
US Fed Agencies Urge Stronger Risk Controls for Banks in Crypto Custody
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BTCCSquare news:
Three US Federal banking regulators—the Federal Reserve, FDIC, and OCC—issued a joint statement emphasizing the need for robust risk-management practices in crypto-asset safekeeping. The guidance clarifies that existing laws and regulations apply, without introducing new supervisory expectations. Banks offering custody services must operate in a 'safe and sound' manner, adhering to fiduciary and non-fiduciary frameworks.
The agencies outlined two permissible custody models: controlling cryptographic keys in compliance with regulations, and acting as fiduciaries where legally authorized. The statement underscores the growing institutional engagement with digital assets while reinforcing regulatory guardrails.
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