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Fed adds a new layer of bureaucracy for US banks engaging in crypto asset activities

The letter, signed by the directors of the regulatory and community affairs divisions, applies to all banks supervised by the Fed with no threshold of minimum assets. It begins with a warning about the risks associated with crypto, specifically mentioning evolving technology and its governance, Anti-Money Laundering and transparency and the stability of assets such as stablecoin.

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Source: Cryptocurrency - investing.com

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