According to the Federal Reserve's official website, PANews reports on April 25th that the Federal Reserve has withdrawn the 2022 regulatory letter requiring state member banks to provide advance notice of crypto asset activities and the 2023 non-objection procedure letter regarding dollar token activities. The Fed has also jointly exited with the FDIC two statements issued with the OCC in 2023 concerning crypto asset risks and liquidity risks. This move aims to supervise crypto activities through regular regulatory processes and support innovation in the banking system. However, the January 2023 guidance that remains unrevoked still raises concerns about regulatory consistency.
Fed drastically withdraws regulatory guidance on crypto and dollar tokens
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