US EditionFederal Reserve Clarifies Rules for Banks Holding Crypto Assets - EUROPE SAYS
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Blockchain, or more precisely, distributed ledger technology (DLT), was long considered a technically sophisticated but economically elusive innovation – especially beyond cryptocurrencies. Empirical data now shows that companies in Germany are increasingly not just observing the technology, but are actively testing it for specific use cases or even integrating it into their business processes. An overview of... The article "Blockchain needs ban…
Banks Must Strengthen Risk Controls To Hold Crypto, Say Regulators » News.ng
In a joint statement released Monday, the Federal Reserve, the Office of the Comptroller of the Currency (OCC), and the Federal Deposit Insurance Corporation (FDIC) reiterated that banks intending to hold crypto assets for clients must follow established regulatory guidelines. The agencies clarified that they are not introducing new rules but emphasised the need for strong risk management practices. Financial institutions must assess potential t…
The U.S. financial authorities issued a joint statement to clarify how banks should act in providing cryptocurrency custody services. *** The Fed, OCC and the IDF stressed that they are not creating new rules, but reaffirming existing principles. They urge banks to implement robust risk management frameworks specific to digital assets. It is framed in a recent wave of more favourable regulatory changes to cryptocurrencies in the U.S. The major U…
Banking Regulators Provide Guidance for U.S. Banks on Crypto Custody
The Federal Reserve, FDIC, and Office of the Comptroller of the Currency have jointly issued new guidance on how U.S. banks should approach crypto custody services. The statement is aimed at banks already involved or considering involvement in holding crypto-assets for customers. Banks Must Meet Strict Standards Before Offering Crypto Custody Services The statement restates The post Banking Regulators Provide Guidance for U.S. Banks on Crypto Cu…
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