According to BlockBeats, the official announcement shows that the Federal Reserve Board announced on Friday that it will terminate the 'new activity' regulatory program and restore supervision of banks' new types of business through normal regulatory processes.
Since the committee launched the regulatory program targeting specific cryptocurrency and fintech businesses for banks, the Federal Reserve has deepened its understanding of these businesses, associated risks, and banks' risk management practices. Based on this, the Federal Reserve will reintegrate the relevant knowledge and supervision of these businesses into the standard regulatory process and revoke the regulatory letter issued in 2023 that established this program.
