Federal Reserve Board provides additional information for banking organizations engaging or seeking to engage in crypto-asset-related activities – Federal Reserve

Federal Reserve Board provides additional information for banking organizations engaging or seeking to engage in crypto-asset-related activities – Federal Reserve

Blockchain Crypto Market Technology
September 14, 2022 by Coinvasity
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The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system. Federal Open Market Committee Monetary Policy Principles and Practice Policy Implementation Reports Review of Monetary Policy Strategy, Tools, and Communications Institution Supervision Reports Reporting Forms Supervision & Regulation Letters Banking Applications &

The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system.
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August 16, 2022
For release at 2:30 p.m. EDT

The Federal Reserve Board on Tuesday provided additional information for banking organizations engaging or seeking to engage in crypto-asset-related activities.
The emerging crypto-asset sector presents potential opportunities to banking organizations, their customers, and the overall financial system; however, crypto-asset-related activities may also pose risks related to safety and soundness, consumer protection, and financial stability.
The supervisory letter issued today outlines the steps Board-supervised banks should take prior to engaging in crypto-asset-related activities, such as assessing whether such activities are legally permissible and determining whether any regulatory filings are required. Additionally, the supervisory letter states that Board-supervised banking organizations should notify the Board prior to engaging in crypto-asset-related activities.
The supervisory letter also emphasizes that Board-supervised banking organizations should have adequate systems and controls in place to conduct crypto-asset-related activities in a safe and sound manner prior to commencing such activities.
The Board, Office of the Comptroller of the Currency, and Federal Deposit Insurance Corporation previously released an interagency statement regarding their crypto-asset policy initiative last year.
For media inquiries, please email [email protected] or call 202-452-2955.
SR 22-6 / CA 22-6: Engagement in Crypto-Asset-Related Activities by Federal Reserve-Supervised Banking Organizations
Board of Governors of the Federal Reserve System
20th Street and Constitution Avenue N.W., Washington, DC 20551

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