Fed pulls out regulatory plans for bank crypto and fintech activities

Foresight News According to Foresight News, the Federal Reserve Committee announced that it would terminate its regulatory program for innovation activities and resume monitoring of bank innovation activities through normal regulatory procedures. Since the Commission launched its plan to regulate bank-specific cryptocurrency and fintech activities, the Commission's understanding of these activities, related risks, and bank risk management practices has been strengthened. Therefore, the Commission is reintegrating this knowledge and regulation of these activities into the standard regulatory process and revoking its regulatory letter when the plan was formulated in 2023.
Disclaimer: The views in this article only represent the author's personal views and do not constitute investment advice of this platform. This platform does not make any guarantees for the accuracy, completeness, originality and timeliness of article information, nor is it liable for any losses caused by the use or trust in article information.