The Federal Reserve announced in a press release issued on Friday the discontinuation of its “novel activities” supervision program, which was established to monitor banks’ interactions with crypto and fintech sectors.

Instead, the central bank will now incorporate this oversight into its conventional bank supervision framework, aligning with President Donald Trump’s goal to make America the “crypto capital of the world” with new regulatory frameworks for digital assets.

Fed Abandons Crypto Supervision Program

Launched in 2023, the program aimed to scrutinize how banks engage with emerging technologies, particularly in the digital asset industry that faced significant restrictions from regulators under the past administrations.

However, the Federal Reserve has determined that

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