On Tuesday, the US banking officials released a list of their upcoming plans for regulating cryptocurrencies, along with a new policy stating that granting permission to banks be required before engaging in crypto projects.
“As supervised institutions seek to engage in crypto-asset-related activities, it is important that the agencies provide coordinated and timely clarity where appropriate,” the document states, while calling for greater clarity in the commonly used crypto terminology, a more precise risk assessment, and already existing regulations analyses.
The Fed and other banking agencies have also expressed their interest in defining which crypto-asset activities are “legally permissible,” and should start shedding some light on the subject throughout 2022.
The agenda does not directly aim to change any of the existing regulations. However, as they wish to closely inspect the whole crypto industry, a future adjustment of current regulations is not entirely out of the question. The banking road map also seems to hint at regulating Tokens in the same manner as banks regulate their usual assets.
However, the bottom line seems to be that the regulations are not changing just yet, but might undergo some adjustments later down the line.
