Express
The FDIC To Issue Policy Statements Related To Bank's Crypto Business In The Next Few Months
Summary: During the Money 20/20 conference in Las Vegas, Jelena McWilliams, Chairman of the Federal Deposit Insurance Corporation (FDIC), stated that the agency focused on establishing clear guidelines for the cross-business between cryptocurrency and the U.S. banking industry, with the aim of maintaining innovation while reducing risks. McWilliams emphasized the multi-institutional, banking-focused work, claiming that representatives of the ...
During the Money 20/20 conference in Las Vegas, Jelena McWilliams, Chairman of the Federal Deposit Insurance Corporation (FDIC), stated that the agency focused on establishing clear guidelines for the cross-business between cryptocurrency and the U.S. banking industry, with the aim of maintaining innovation while reducing risks.
McWilliams emphasized the multi-institutional, banking-focused work, claiming that representatives of the Office of the Comptroller of the Currency and the Federal Reserve both contributed to the process.
She mentioned: "My objective is to provide clear guidance to the public on how our existing rules and policies apply to crypto assets, what types of activities are permissible for banks to engage in, and what supervisory expectations we have for banks that do engage in such activities. We plan to issue a series of policy statements in the coming months."
By Mary Liu
Tags: Bank,Crypto,FDIC,Jelena McWilliams,OCC,Regulation
Link: The FDIC To Issue Policy Statements Related To Bank's Crypto Business In The Next Few Months [Copy]
