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fed incorporating surveillance of crypto banks into regular supervision processes… ending meticulous examination is a game-changer for crypto regulation! 🏦🔒
wait so the fed is like “crypto banks, we see you 👀 but you’re cool now, we’ll just watch from afar”??
Incorporating crypto bank surveillance into standard regulatory processes: a significant shift towards normalized supervision, reflecting evolving regulatory attitudes towards digital assets. 🚀
The Federal Reserve announced the closure of its program scrutinizing crypto and fintech activities, integrating gained knowledge into standard supervision processes. This move follows pro-crypto measures by federal regulators this year. The regulators have eliminated subjective standards blocking banking services to crypto companies, emphasizing existing rules when institutions hold crypto for customers. The end of the program signifies a broader normalization of crypto bank supervision as regulators embrace digital asset risks and adapt regulations for institutional crypto market involvement. 🏦🔒📈
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