Federal agencies that regulate banks in the US will be implementing some of the developments they have made regarding crypto money policies from the coming months.
In a joint statement released on Tuesday by the Federal Reserve (Fed), Federal Deposit Insurance Corporation (FDIC) and Office of the Currency Control (OCC); banks to implement certain activities related to cryptocurrencies. whether you have permissions It is stated that it will be clarified during 2022.
The Office of the Currency Regulatory Authority issued an independent statement from other institutions yesterday, giving federal banks the right to issue cryptocurrencies. custody service grant, hold fiat deposits on behalf of stablecoin operators, and operate a blockchain node there is no change announced.
The joint statement published by the Fed, FDIC and OCC does not indicate any change in the current regulations in the country, and while these institutions create their crypto money policies. What aspects will you focus on? reveals.
These three institutions can be used for cryptocurrencies while collaborating among themselves. a common terminology prepared, the industry key risks identified and the current regulations on this sector how feasible it is examined.
“Relevant authorities, whether certain activities of banking institutions in connection with cryptoassets are legally permissible and what are the expectations in terms of security and consumer protection. […] to the subjects It plans to bring more clarity through 2022.
federal agencies; implemented by banks 1) crypto-assets security and traditional custody, 2) ancillary (as-a-service) custody, 3) customers’ trading of crypto assets, 4) collateralization of loans with crypto assets, 5) stablecoin issuance and distribution, 6) crypto on balance sheet activities and practices involving holding assets.will assess its status within the current legal framework.