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Crypto Oversight Road Map Is Set by U.S. Banking Regulators

  • Fed, OCC, FDIC outline agenda for crypto work in 2022
  • OCC also says banks must get pre-approval for crypto services
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U.S. banking agencies provided more insight into their plans for regulating cryptocurrencies on Tuesday, issuing a to-do list of their priorities for next year and announcing a new policy that would require banks to seek permission before offering digital currency products. 

The Federal Reserve and other banking agencies released an agenda outlining areas of focus, including how they plan to weigh custody, crypto-backed loans and the possibility of capital standards, according to a joint statement. Separately, the Office of the Comptroller of the Currency said that banks must get an additional sign-off from the regulator before engaging with digital coins.