Federal Reserve Board withdraws crypto-asset guidance for banks
25 April 2025 US
Image: stock.adobe.com/THANANIT
The Federal Reserve Board has withdrawn its guidance for banks related to their crypto-asset and dollar token activities and related changes to its expectations for these activities.
The Board says that this withdrawal comes with the aim of aligning itself with evolving risks and further support innovation in the banking system.
Also rescinded is the 2022 supervisory letter which meant state member banks were expected to provide advance notification of planned or current crypto-asset activities.
Instead, the Board will now observe banks' crypto-asset activities through normal supervisory processes.
The 2023 letter regarding the supervisory nonobjection process for state member bank engagement in dollar token activities has also been rescinded.
Along with the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency, the Board is withdrawing from two 2023 statements regarding banks' crypto-asset activities and exposures.
The Board says that this withdrawal comes with the aim of aligning itself with evolving risks and further support innovation in the banking system.
Also rescinded is the 2022 supervisory letter which meant state member banks were expected to provide advance notification of planned or current crypto-asset activities.
Instead, the Board will now observe banks' crypto-asset activities through normal supervisory processes.
The 2023 letter regarding the supervisory nonobjection process for state member bank engagement in dollar token activities has also been rescinded.
Along with the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency, the Board is withdrawing from two 2023 statements regarding banks' crypto-asset activities and exposures.
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