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- 📢 Exclusive on Gate Square — #PROVE Creative Contest# is Now Live!
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The Federal Reserve (FED) rescinds bank encryption asset regulatory guidelines and adjusts regulatory expectations.
Gate.io News bot message, The Federal Reserve (FED) Board announced on April 24, 2025, the withdrawal of multiple regulatory guidelines regarding banks' encryption assets and US dollar token-related activities.
This adjustment includes three aspects: First, the requirement for state member banks to provide advance notice before engaging in encryption asset activities in 2022 is canceled, and supervision will be conducted through regular regulatory procedures; Second, the regulatory letter requiring banks to obtain non-objection opinions for participation in US dollar token activities in 2023 is revoked; Third, together with the Federal Deposit Insurance Corporation (FDIC), we withdraw from the two statements related to encryption assets previously jointly issued with the Office of the Comptroller of the Currency (OCC) in 2023.
The Federal Reserve (FED) stated that it will work with relevant agencies to consider developing new guidelines based on actual conditions to support innovative activities in the banking system.
Source: Wu Says