Crypto
U.S. Banks Face Uncertainty Over Wider Crypto Activities
A new Congressional Research Service report examines whether U.S. banks can conduct a broader range of crypto-related activities.
Bank regulators generally assess whether an activity relates to banking and whether it creates safety and soundness risks.
The report traces repeated changes in federal policy toward crypto-related banking activities since 2017.
Depending on the administration and regulatory leadership, federal banking agencies have issued guidance that allowed, restricted or later restored certain activities without requiring case-by-case approval.
The CRS report comes shortly after a separate Federal Deposit Insurance Corporation (FDIC) proposal concerning state-chartered banks operating across state lines.