The U.S. crypto sector is set to experience increased regulatory scrutiny from the Federal Reserve, as an initiative known as the Novel Activities Supervision Program comes into play. This program has been designed with the primary aim of bolstering the monitoring of pioneering activities undertaken by financial institutions under the purview of the central bank.
According to an official statement released by the Fed Board (FRD), this novel initiative will center its focus on groundbreaking endeavors associated with distributed ledger technology, crypto assets, and technology-driven collaborations with nonfinancial entities aimed at providing financial services to…
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