Federal Reserve and others issue guidelines: Banks must strengthen risk control when custodying crypto assets
On July 15 (UTC+8), the Federal Reserve, the Office of the Comptroller of the Currency (OCC), and the Federal Deposit Insurance Corporation (FDIC) jointly issued a statement clarifying how current regulatory rules apply to banks providing crypto asset custody services to customers. The statement pointed out that this is not to establish new regulatory expectations, but requires banks to prudently assess relevant risks, including cybersecurity, key and sensitive information management, and establish a risk governance framework adapted to the characteristics of the crypto market, just like they treat other new products and services. Recently, during Trump's tenure, a number of institutions intensively released regulatory guidelines and appointed a number of crypto-friendly officials to promote financial institutions to accelerate into the crypto field. [MetaEra]
Federal Reserve and others issue guidelines: Banks must strengthen risk control when custodying crypto assets
On July 15 (UTC+8), the Federal Reserve, the Office of the Comptroller of the Currency (OCC), and the Federal Deposit Insurance Corporation (FDIC) jointly issued a statement clarifying how current regulatory rules apply to banks providing crypto asset custody services to customers. The statement pointed out that this is not to establish new regulatory expectations, but requires banks to prudently assess relevant risks, including cybersecurity, key and sensitive information management, and establish a risk governance framework adapted to the characteristics of the crypto market, just like they treat other new products and services. Recently, during Trump's tenure, a number of institutions intensively released regulatory guidelines and appointed a number of crypto-friendly officials to promote financial institutions to accelerate into the crypto field. [MetaEra]
