Federal Reserve Removes Specialized Crypto Oversight Following Trump’s Executive Order

The Federal Reserve has discontinued its specialized monitoring framework for crypto activities within regulated banks, a move that follows President Donald Trump’s executive order aimed at ending discriminatory banking practices. Introduced in 2023, the program had been designed to scrutinize novel digital asset services offered by banks and gather data on their operational models and risk management strategies. Now, with the Fed deeming it unnecessary due to accumulated insight into these services, the original guidance will be withdrawn.