The Board of Governors of the Federal Reserve System (Board) has withdrawn supervisory guidance for Board-supervised banks concerning crypto-asset and dollar token activities and Board expectations for these activities. The Board, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) also withdrew joint supervisory statements on crypto-asset activities and exposures.
On Feb. 23, 2023, the Board of Governors of the Federal Reserve System (Federal Reserve), Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) (collectively, the Agencies) issued a joint statement (Joint Statement) that highlights liquidity risks crypto-asset-related (CAR) funding sources pose to banking organizations and provides some effective practices
On Jan. 3, 2023, the Board of Governors of the Federal Reserve System (Federal Reserve), Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) (collectively, the “Agencies”) issued a joint statement (Joint Statement) that reiterates prior crypto-related guidance and highlights crypto-asset risks to banking organizations. The Joint Statement follows a year
On Nov. 23, 2021, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued a joint statement summarizing a new “Crypto-Asset Policy Sprint Initiative.”
On Nov. 1, 2021, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation (FDIC) joined with the president’s Working Group on Financial Markets (PWG) to release the much anticipated Report on Stablecoins (the “Report”). The Report (i) discusses the background of stablecoins and their functions, (ii) identifies and assesses the