CoinVoice has recently learned that, according to an official announcement, the Federal Reserve Board announced on Friday that it will terminate the 'novel activities' supervisory program and revert to normal supervisory processes for overseeing banks' novel businesses.

Since the Board initiated a supervisory program targeting specific cryptocurrency and fintech activities of banks, the Federal Reserve has deepened its understanding of these activities, the associated risks, and banks' risk management practices. Based on this, the Federal Reserve will reintegrate the relevant knowledge and oversight of these activities back into standard supervisory processes and will revoke the supervisory letter issued in 2023 that established this program. [Original link]