Fed unveils new crypto supervision programme
Smaller banks need Federal Reserve authorisation before issuing stablecoins and dollar tokens
The US Federal Reserve Board unveiled a new body that will oversee activities related to crypto assets, the Novel Activities Supervision Program.
The programme will oversee banks engaged in non-bank service partnerships, crypto activity, distributed ledger projects and lending to crypto related firms, the Fed announced on November 9. It applies to all banking organisations supervised by the Federal Reserve, including those with $10 billion or less in consolidated assets.
The Fed also set out a
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