US regulators to explore crypto policy for banks

Team Luno
Back to blog

1 minute read

  • Jelena McWilliams, the chair of the Federal Deposit Insurance Corporation (FDIC), has said the agency is working closely with US regulators to explore “under what circumstances banks can engage in activities involving crypto assets.”
    • “Establishing clear regulatory expectations will be paramount to give this market an opportunity to grow and mature in a responsible manner,” said McWilliams.
    • In a speech held at the Money20/20 Fintech Conference, McWilliams said the FDIC, along with the Federal Reserve and the Office of the Comptroller of Currency, is looking for ways to create regulatory clarity for banks handling crypto assets.
    • She also said the regulations will also cover stablecoins in order to help these crypto tokens “realise the potential benefits they have to offer.”
    • McWilliams suggested banks can expect a series of policy statements in the coming months.
    Avatar Team Luno

    Team Luno

    On our way to the moon, we write about all things crypto. And don’t forget we’re humans too. Our blog conveys the views of Luno and the many unique opinions and characters within our team. We’ll never provide you with financial advice, and we urge you to conduct your own research before purchasing or trading any cryptocurrencies. It’s a brave new world out there, and the market can be volatile at times, so never trade with funds you can’t afford to lose. Want to let us know how much you love our blog? Tweet us @LunoGlobal.

    It’s never too late to get started

    Buy, store and learn about cryptocurrency today

    Desktop Icon Apple App Store Logo Google Play Store Logo