The US Federal Reserve has announced it would withdraw guidance for banks engaging in crypto asset and stablecoin-related activities.
”The Board is rescinding its 2022 supervisory letter establishing an expectation that state member banks provide advance notification of planned or current crypto-asset activities,” the Board of Governors of the Federal Reserve explained in an April 24 statement.
Any crypto-related activities will now be monitored through the Federal Reserve’s normal supervisory process, it said.
The Federal Reserve is also rescinding its 20...
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