The Board of Governors of the Federal Reserve System issued a policy statement limiting state member banks to activities permissible for national banks or otherwise permissible for state chartered banks. FRB discusses how it would apply this statement to crypto asset activities.
<p><span>Introductory Remarks</span><br /><span>Good morning. It is a pleasure to join you, and I appreciate the invitation to speak to you virtually for this inaugural Midwest Cyber Workshop hosted by the Federal Reserve Banks of Chicago, Kansas City, and St. Louis.</span></p>
The collapse of numerous crypto businesses in 2022 has led to alarm and calls for increased regulation. Global Insight assesses what’s at stake and what should be done.
In the past year, the Board of Governors of the Federal Reserve System (the Board) Biden administration officials, and other U.S. banking regulators have repeatedly voiced growing.
The Federal Reserve Board issued two seemingly related press releases late last week. The first announced the denial of the Federal Reserve membership application by Custodia Bank, a Wyoming special purpose depository institution.