Washington, D.C. – The Federal Reserve and the FDIC today withdrew two policy statements related to banking organizations’ crypto-asset-related activities. Paige Pidano Paridon, BPI co-head of regulatory affairs, responded:
Banks have been effectively barred from engaging with digital assets by policies that treat financial innovation like a privilege, not a possibility. Today’s decision by the FDIC and the Fed to follow the OCC’s lead and rescind two of the most troublesome policy statements is the right move. It empowers regulated financial institutions to better serve their customers safely and invest in innovative new products and services to support America’s global competitiveness.
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About Bank Policy Institute.
The Bank Policy Institute is a nonpartisan public policy, research and advocacy group that represents universal banks, regional banks and the major foreign banks doing business in the United States. The Institute produces academic research and analysis on regulatory and monetary policy topics, analyzes and comments on proposed regulations, and represents the financial services industry with respect to cybersecurity, fraud, and other information security issues.
Media Contacts
- Austin Anton, Bank Policy Institute, austin.anton@bpi.com
