The federal reserve and other American banking agencies published another declaration on the appropriate treatment of cryptographic assets on Monday, describing the appropriate policies which must be followed for banks which were engaged in the “guard” of digital assets of customers.
The press release sent from the Fed, Federal Deposit Insurance Corp. And the currency controller’s office have clearly indicated that these last considerations do not represent a new police thrust.
The trio of agencies has decided to clarify that the correct maintenance of these assets consists in “controlling the cryptographic keys associated with the crypto-actor in a manner which complies with applicable laws and regulations”.
In addition to the management of cryptographic keys, the seven -page note described some of the requirements of money laundering controls, risk management, software and audits.
“This declaration explains how the laws, regulations and principles of existing risk management apply to this activity and do not create any new expectations of supervision,” said agencies.
American banking regulators have had a tumultuous relationship with the space of digital assets, having issued advice in the previous administration of President Joe Biden who forced bankers to easily do business with cryptographic companies. But the regulators of President Donald Trump returned these advice.
The last feelings of agencies occur at the start of the week of self-proclaimed cryptography of the House of Representatives in the United States during which legislators should approve several crypto invoices in order to create formal regulations on American digital assets.
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