US Fed Closures Crypto Bank Oversight Program, Signaling Regulatory Shift

The Federal Reserve has closed its dedicated crypto bank oversight program, signaling a shift in regulatory approach towards reduced oversight of digital assets. The decision follows a broader trend under President Biden’s administration to scale back previous strict crypto banking regulations enacted during the Trump era. This change represents a significant departure from the highly specialized structure established after Silicon Valley Bank, Silvergate Bank, and Signature Bank’s collapses in 2023.