"Expect greater regulatory scrutiny of crypto-asset activities" by Kathryn L. Ryan, Gordon L. Miller, and Max Bonici (Law360)
Law360Kathryn L. Ryan, Gordon L. Miller , Max Bonici
In mid-August, the Federal Reserve issued guidance on crypto-asset and related activities, joining the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation in alerting their supervised entities that they must provide written notice before engaging in this space.
Institutions already engaging in these activities must also file notice. The separate issuances from all three federal prudential banking agencies make clear that supervised entities engaged in crypto-asset and related activities will be subject to heightened supervisory scrutiny.