The Fed terminates special supervision and resumes regular process to oversee banks' encryption business.

[Block Rhythm] On August 16, according to an official announcement, the Fed committee announced on Friday that it would terminate the "new activity" regulatory program and restore oversight of banks' new businesses through the normal regulatory process.

Since the committee launched its regulatory program for banks' specific cryptocurrency and fintech operations, the Fed has deepened its understanding of these operations, the associated risks, and banks' risk management practices. Based on this, the Fed will reintegrate the relevant knowledge and regulation of these operations back into the standard regulatory process and withdraw the regulatory letter issued in 2023 that established this program.

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CommunityJanitorvip
· 16h ago
But it's also a hands-off manager.
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GateUser-a606bf0cvip
· 08-15 21:11
Almost understood, right?
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SmartContractPlumbervip
· 08-15 17:16
Wait for major safety incidents with regulatory relaxation.
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GasGuruvip
· 08-15 17:16
Finally figured it out.
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MysteryBoxOpenervip
· 08-15 17:12
Ah? Is it going to be strict again?
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LiquidationAlertvip
· 08-15 17:12
A bit of something, the regulation has loosened.
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LiquidityOraclevip
· 08-15 17:06
Regulation keeps me awake.
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TestnetFreeloadervip
· 08-15 16:49
It's about time to let go, brothers.
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