Fed issues guidance for banks using crypto assets

Crypto-assets

The Federal Reserve issued guidance for banks seeking to engage in financial activity using crypto assets on August 16. The chief guidance in its supervisory letter was that banks should notify their lead contact person at the Fed when using or hoping to use crypto assets for financial services.

“Although the interest seemed to have cooled lately, given recent developments in the crypto industry, we have seen significant consumer demand for engagement in these types of services,” Fed governor

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