Federal Deposit Insurance Corporation
Federal Reserve Board
Office of the Comptroller of the Currency
For release at 2:30 p.m. EDT
Today, federal bank regulatory agencies released a joint statement as part of their ongoing efforts to clarify banks’ involvement in activities related to crypto-assets. This statement outlines potential risk-management considerations for banks regarding the holding of crypto-assets on behalf of their customers, as well as the safekeeping of these assets.
The joint statement elaborates on the existing risk-management principles that are relevant to the safekeeping of crypto-assets. It serves as a reminder to banks that currently offer or are contemplating the provision of safekeeping services for such assets that they must ensure these activities are conducted in a safe and sound manner, adhering to all applicable laws and regulations.
Importantly, the statement does not introduce any new supervisory expectations. The agencies remain committed to finding additional ways to enhance clarity regarding banks’ participation in crypto-asset-related activities.
