Fed Updates Banking Regulatory Plans for Crypto Activity

The Federal Reserve provided more information on its plans to regulate banks for new crypto activities.

New crypto activities include complex, technology-driven partnerships between banks and non-banks to provide banking services to crypto clients; and activities involving crypto assets and distributed ledger or “blockchain” technology.

The Fed also provided additional information on the process that state banks it regulates should follow before engaging in certain dollar token or stablecoin activities, including certifying to its Fed regulator that it has the appropriate safeguards in place to conduct its activities safely and securely .