2023 Fintech and Financing Conference & Expo

Federal Reserve Board, FDIC and OCC Agencies issue joint statement on crypto-asset policy initiative and next steps

Federal Reserve Board of Governors | Nov 23, 2021

Federal reserve board of govenors - Federal Reserve Board, FDIC and OCC Agencies issue joint statement on crypto-asset policy initiative and next steps

  • Board of Governors of the Federal Reserve System
  • Federal Deposit Insurance Corporation
  • Office of the Comptroller of the Currency

Federal bank regulatory agencies today issued a statement summarizing their interagency "policy sprints" focused on crypto-assets and providing a roadmap of future work related to crypto-assets.

See:  Hester Peirce Says SEC Enforcement is Not the Way to Provide Crypto Clarity

In particular, the statement describes the focus of the preliminary work conducted through the sprints undertaken by the agencies. It summarizes the agencies' plan to provide greater clarity throughout 2022 on whether certain crypto-related activities conducted by banking organizations are legally permissible, and related expectations for safety and soundness, consumer protection, and compliance with existing law and regulations.

The emerging crypto-asset sector presents potential opportunities and risks to banking organizations, their customers, and the overall financial system. The interagency sprints quickly advanced and built on agencies' combined knowledge, which helped identify and assess key issues related to potential crypto-asset activities conducted by banking organizations.

The statement from the agencies does not alter any existing agency rules or regulations.

Continue to the full article --> here

Download the 2 page PDF joint release statement --> here


NCFA Jan 2018 resize - Federal Reserve Board, FDIC and OCC Agencies issue joint statement on crypto-asset policy initiative and next steps The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - Federal Reserve Board, FDIC and OCC Agencies issue joint statement on crypto-asset policy initiative and next stepsFF Logo 400 v3 - Federal Reserve Board, FDIC and OCC Agencies issue joint statement on crypto-asset policy initiative and next stepscommunity social impact - Federal Reserve Board, FDIC and OCC Agencies issue joint statement on crypto-asset policy initiative and next steps

Support NCFA by Following us on Twitter!







NCFA Sign up for our newsletter - Federal Reserve Board, FDIC and OCC Agencies issue joint statement on crypto-asset policy initiative and next steps




 

Leave a Reply

Your email address will not be published. Required fields are marked *

two × five =