Federal Reserve Vice Chair for Supervision: The Federal Reserve is collaborating with the Office of the Comptroller of the Currency and others on cryptocurrency regulation

ChainCatcher news, Federal Reserve Vice Chair for Supervision Michael Barr spoke at DC Fintech Week, stating that activities related to crypto assets need to be supervised, and ensuring that crypto service providers are subject to similar regulatory safeguards as other financial service providers.

The Federal Reserve is working with colleagues from the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) to ensure that crypto asset-related activities that banks may engage in are well-regulated to protect customers and financial institutions. Additionally, stablecoins may pose risks to financial stability, and in this regard, the Federal Reserve is also collaborating with other regulatory agencies. (source link)