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In Law360, Dan Hartman Examines Recent Federal Changes in Crypto Banking Guidance
Print PDFDan Hartman, an of counsel in Nutter’s Corporate Department and a member of the firm’s Banking and Financial Services group, wrote an article on recent federal actions in connection with the crypto-asset space in Law360. In the article, “Fed's Crypto Guidance Yank Could Drive Innovation,” Dan discussed how the Federal Reserve Board withdrew two crypto-related supervisory guidance letters applicable to state member banks, in addition to joining the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency in withdrawing two interagency joint statements on crypto-asset and related liquidity risks.
Dan pointed out that these federal actions increase regulatory clarity and consistency while opening up banks' ability to innovate in the crypto-asset space, and they benefit banks and the banking system. However, he noted that key distinctions remain between the Fed's policy and the OCC and FDIC that the Fed could either mute or lean into, and could result in regulatory differences that are difficult to navigate.
