Fed ends crypto and fintech supervision programme
“Novel activities” programme will be folded into normal supervisory processes
The US Federal Reserve announced the end of its crypto-focused “novel activities supervision program” on August 15. It said it will return to monitoring banks’ novel activities through its normal supervisory process.
Novel activities refer to crypto, distributed ledger technology and some fintech activities, including “complex, technology-driven partnerships” with non-banks. The programme was launched in August 2023.
“Since the Board started its program to supervise certain crypto and fintech
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