The post Crypto Gets Relief as Fed Ends Extra Oversight and Eases Banking Rules; Experts React appeared first on Coinpedia Fintech News
The Fed is lately softening its stance on digital assets, changing how banks can work with crypto and new tech.
On Friday, the Federal Reserve announced that it is ending its special supervision program for “novel activities” such as crypto and fintech services offered by banks.
Fed Moves Banks’ Crypto Review Back to Normal Oversight
Launched in 2023, the program was designed to help the Fed better understand emerging financial technologies, their risks, and how banks manage those risks.
After two years, the Fed says that it has gained the insights it needs, and it will now handle these activities through its regular bank supervision. It will also rescind its 2023 supervisory letter that launched the program.
Crypto Backers Praise Fed’s Move
Senator Cynthia Lummis called the Fed’s decision a major win against “Operation Choke
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