FED ENDS CRYPTO BANK SUPERVISION PROGRAM

Summary from the TLDR Crypto newsletter

The U.S. Federal Reserve has shut down its “Novel Activities Supervision Program,” which was created in 2023 to oversee banks engaging in crypto and fintech partnerships. The Fed said it has integrated the lessons learned into its standard supervisory process, rescinding the program's guidance letter. The move continues a broader regulatory pullback under the Trump administration, with agencies easing restrictions on banks' crypto involvement and shifting toward updated rulemaking.