The post Crypto News: Fed Shuts Down Special Crypto Oversight, Returns to Normal Rules appeared first on Coinpedia Fintech News
The U.S. Federal Reserve has announced it will shut down its Novel Activities Supervision Program, a framework created in 2023 to monitor banks involved in crypto, blockchain, and fintech partnerships.
The program was launched to give the Fed a closer look at new and complex banking activities, including cryptocurrency custody, stablecoin projects, tokenized assets, and partnerships between banks and technology companies. It also tracked banks that provided large amounts of traditional banking services to crypto firms and fintech startups.
The Federal Reserve announced it will terminate its Novel Activities Supervision Program and resume oversight of crypto and fintech-related bank activities through its standard supervisory process. The program, launched in 2023, is being retired as the Fed has gained sufficient…
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