Fed moves to ban state banks from holding crypto as principal

Supervisors outline plan for “level playing field” between state and national banks

Federal Reserve

The US Federal Reserve Board has said it intends to prohibit state banks from holding crypto as principal, in a move designed to align rules for state and national banks.

“The board has not identified any authority permitting national banks to hold most crypto assets, including bitcoin and ether, as principal in any amount, and there is no federal statute or rule expressly permitting state banks to hold crypto assets as principal,” the Fed said in the document, published on January 30.


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