Crypto Oversight Road Map Is Set by US Banking Regulators

U.S. banking agencies provided more insight into their plans for regulating cryptocurrencies on Tuesday, issuing a to-do list of their priorities for next year and announcing a new policy that would require banks to seek permission before offering digital currency products. From a report: The Federal Reserve and other banking agencies released an agenda outlining areas of focus, including how they plan to weigh custody, crypto-backed loans and the possibility of capital standards, according to a joint statement. Separately, the Office of the Comptroller of the Currency said that banks must get an additional sign-off from the regulator before engaging with digital coins. "Throughout 2022, the agencies plan to provide greater clarity on whether certain activities related to crypto-assets conducted by banking organizations are legally permissible," the Fed, Office of the Comptroller of the Currency and Federal Deposit Insurance said in the statement.

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