Federal Banking Agencies Release Joint Statement on Crypto-Asset “Policy Sprint” Initiative: Federal Reserve, FDIC and OCC Provide Update Regarding Crypto-Asset Regulation, Including Proposed Regulatory Roadmap for 2022.

Sullivan & Cromwell LLP - November 24, 2021

On November 23, 2021, the federal bank regulators released a joint statement summarizing the work undertaken so far with respect to the agencies’ so-called “policy sprint” regarding crypto-assets. The statement notes a focus on advancing the agencies’ understanding of banks’ potential involvement in crypto-asset-related activities and identifies a number of areas where the agencies intend to provide additional regulatory clarity in 2022. These areas include the permissibility of crypto-asset-related activities and the agencies’ expectations with respect to those activities.

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