The Federal Reserve Board provided additional information for banking organizations engaging or seeking to engage in crypto-asset-related activities.
The emerging crypto-asset sector presents potential opportunities to banking organizations, their customers, and the overall financial system; however, crypto-asset-related activities may also pose risks related to safety and soundness, consumer protection, and financial stability.
@federalreserve provides additional information for banking organizations engaging or seeking to engage in crypto-asset-related activities: https://t.co/V4qNSWzes8
— Federal Reserve (@federalreserve) August 16, 2022
The supervisory letter outlines the steps Board-supervised banks should take prior to engaging in crypto-asset-related activities, such as assessing whether such activities are legally permissible and determining whether any regulatory filings are required. Additionally, the supervisory letter states that Board-supervised banking organizations should notify the Board prior to engaging in crypto-asset-related activities.
The supervisory letter also emphasizes that Board-supervised banking organizations should have adequate systems and controls in place to conduct crypto-asset-related activities in a safe and sound manner prior to commencing such activities.
The Board, Office of the Comptroller of the Currency, and Federal Deposit Insurance Corporation previously released an interagency statement regarding their crypto-asset policy initiative last year.
NEWSLETTER SIGN UP
And receive exclusive articles on securities markets
It's been a month since we had our Women In Finance Awards in New York City at the Plaza! Take a look back tab some moments, and nominate for our upcoming awards in Mexico City and Singapore here: https://www.marketsmedia.com/category/events/
4
Citadel Securities told the SEC that trading tokenized equities should remain under existing market rules, a position that drew responses from various crypto industry groups. @ShannyBasar for @MarketsMedia:
SEC Commissioner Mark Uyeda argued that private assets belong in retirement plans, saying diversified alts can improve risk-adjusted returns and that the answer to optimal exposure “is not zero.” @ShannyBasar reporting for @MarketsMedia:
COO of the Year Award winner! 🏆
Discover how Jennifer Kaiser of Marex earned the 2025 Women in Finance COO of the Year recognition.
Related articles
-
The Gulf Cooperation Council is one of the fastest-growing markets globally.
-
The bank's Doha office will become a strategic hub and the largest regional office for asset management.
-
JP Morgan executives discuss how a once-staid business has transformed into a 'totally different market space'...
-
The two firms aim to deliver investment solutions across retail, private banking & institutions.
-
Indosuez Corporate Advisory brings together more than 80 specialists.