Federal Reserve to Discontinue Crypto and Fintech Bank Supervision Program

Gate News bot message, according to Reuters, the U.S. Federal Reserve has decided to end its specialized program focused on monitoring banks’ cryptocurrency and financial technology activities. The central bank’s move dissolves a team of about 20 employees established in recent years to examine how traditional lenders engage with digital assets and fintech innovations.

The Federal Reserve instead plans to integrate these supervisory responsibilities into its regular bank examination framework. The decision marks a notable shift in the central bank’s approach to overseeing banks’ involvement in the digital asset space.