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ARTICLE · 03 DECEMBER 2021

US Banking Regulators Release Roadmap For Crypto-Related Activities By Banks

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On November 23, 2021, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation released a roadmap.

United StatesFinance and Banking
Matthew Bisanz
Matthew Bisanz
Andrew Olmem
Andrew Olmem
Joseph A. Castelluccio
Joseph A. Castelluccio
David Beam
David Beam
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  • US banking regulators issued a joint statement that sets forth a roadmap for the agencies to provide legal clarity on banking organizations' authority to engage in five crypto-related services and activities.
  • Concurrently, the OCC issued a new legal interpretation that scales back several previous legal interpretations with respect to OCC-related institutions engaging in certain crypto-related activities and establishes new requirements for these activities.
  • In this Legal Update, we briefly summarize these regulatory announcements and provide some insights on steps banking organizations should take to comply with the new requirements and to anticipate future actions by regulators.

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