Banking Agencies Looking at Impact of Crypto-Assets
Last week the Federal Reserve, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency issued a Joint Statement on Crypto-Asset Policy Sprint Initiative and Next Steps. The joint statement highlights the current activity by the agencies to understand the impact of crypto-assets on insured depository institutions and the areas the agencies are reviewing for possible future guidance or regulation. John and Elliot discuss some of the key elements of the report, including the need for a common understanding of what crypto-assets are and how they may impact bank capital.