The Federal Reserve (FED) committee has revoked guidance on banks' activities related to encryption assets and dollar tokens, and adjusted related expectations.

Techub News reports that The Federal Reserve (FED) has announced the withdrawal of previous guidance regarding banks' encryption asset and dollar token activities, and has adjusted the Committee's relevant expectations to ensure alignment with the evolving risks, further supporting innovation in the banking system. Specific measures include the withdrawal of the 2022 regulatory letter, which no longer requires state member banks to provide advance notice of encryption asset activities, and instead monitors banks' encryption asset activities through regular regulatory processes; the withdrawal of the 2023 letter regarding the non-objection process for state member banks engaging in dollar token activities; additionally, the Committee, in collaboration with the Federal Deposit Insurance Corporation (FDIC) and the OCC, has withdrawn two joint statements issued in 2023 by federal banking regulators regarding banks' encryption asset activities and risk exposures. The Committee will work with the agencies to consider whether additional guidance is necessary to support innovation, including encryption asset activities.