Browsing: Cryptocurrency

Newsbytes

Ahead of a House Financial Services Committee hearing on digital assets today—at which the heads of several cryptocurrency firms will testify—the American Bankers Association submitted a statement for the record emphasizing the need for bank-like regulations for companies offering digital assets to consumers.

Compliance and Risk

Banks can expect additional guidance from regulators over the next year clarifying the types of crypto-related activities they may be permitted to engage in, the agencies announced in a joint statement today. As a result of a recent “crypto sprint,” the FDIC, Federal Reserve and OCC unveiled a crypto-asset roadmap that will guide their work in 2022.

Newsbytes

Bank regulators are “approaching crypto activities very carefully and with a high degree of caution,” Acting Comptroller of the Currency Michael Hsu said today at an industry event, adding that “we expect banks to do the same.”

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