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U.S. regulatory agencies release joint report on ‘potential crypto-asset activities’ of banking organizations
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Three major US agencies–Federal Reserve, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency– released a joint statement recently. It listed crypto activities that will be considered permissible for the banking organizations.
The US regulatory framework in the crypto front has long been fragmented. It was the very reason why SEC Commissioner Hester Peirce dismissed the idea for a new crypto regulator.
It is noteworthy that none of these watchdogs were a part of the “policy sprints” that have been conducted so far. The focus of the report included developing a common vocabulary for the banking sector in relation to crypto-assets. Additionally,
“Identifying and assessing key risks… and considering legal
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