White House Shuts Down Fed Crypto Oversight Program
The U.S. Federal Reserve has officially dissolved the Novel Activities Supervision Program, a team formed in 2023 to oversee banks’ involvement in cryptocurrency and other digital asset activities. The program was meant to provide specialized supervision as financial institutions explored digital innovation, including stablecoins and blockchain services. Officials cited “a broader reassessment of regulatory priorities” as the rationale behind the closure.
This move signals a significant shift in how U.S. authorities approach crypto oversight and leaves questions about future guidance for banks.
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