US regulators clarify how banks should manage cryptocurrencies in custody

American financial authorities published a joint statement to clarify how banks should act by offering cryptocurrency custody services.

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• The Fed, the West and the Fdic They stressed that they are not creating new rules, but reaffirming existing principles.
• They urge banks to implement solid framework management frameworks for digital assets.
• It is part of a recent wave of more favorable regulatory changes towards cryptocurrencies in the US.

The main banking agencies of the United States issued a joint statement on Monday in which they specify how banks should interpret existing rules when it comes to guarding cryptocurrencies on behalf of their clients. The announcement underlines the government’s intention to give greater regulatory clarity without imposing new formal demands.

The statement was published by the Board of the Federal Reserve (FED), the Office of the Comptroller of La Moned. The institutions affirmed that Banks should treat cryptoactive ones like any other new product, evaluating the risks associated in a prudent and exhaustive way.

Risks and responsibility by guarding cryptocurrencies

Although the declaration does not impose additional requirements, it does clearly establish regulatory expectations. The agencies reminded financial institutions that must take into account factors such as cybersecurity, protection of private keys and adequate management of sensitive information by considering offering cryptoactive custody services.

“The bank organization that contemplates offering cryptoactive custody services must keep in mind the changing nature of these assets, including underlying technology, and implementing a risk governance framework that adapts to the relevant risks,” They affirmed the agencies in their statement.

The message is aligned with a more technical and strategic vision by the regulator, where it is not about blocking innovation, but to ensure that it is done under standards of protection and responsibility.

In recent months, various US agencies have adopted clearer positions – and in some more open cases – subject the participation of financial institutions in the crypto ecosystem. Since the arrival of President Donald Trump again to power, statements aimed at specifying how banks with digital assets have intensified, which is why this announcement is produced by the regulatory entities.

In May, the Occ He indicated that banks in the US can buy and sell cryptoactives for their own balances, a significant step for the institutional legitimation of the sector. For its part, the Fdic He announced that it will no longer be mandatory for financial entities to notify the agency before participating in activities related to cryptocurrency.

These decisions reflect a growing will by the regulatory apparatus to accommodate digital finances, although under strict control and surveillance conditions.

New regulatory figures with experience in Blockchain

One of the most representative movements of this new phase occurred last week, when the Senate confirmed Jonathan Gould as head of the Occ. This has a deep history in the world of cryptocurrencies: he was previously legal director at the Blockchain Bitfury technology company and also served as a subcontractor and main legal advisor in the agency itself.

Its appointment has been interpreted by analysts in the sector as a sign that the Government seeks to integrate experiences with experience Blockchain in strategic regulatory positions, which could translate into more informed and pragmatic policies.

For many observers, this turn responds to a practical need: the crypto ecosystem is already deeply interconnected with traditional financial markets, and completely excluding it from the banking field would be unrealistic.

The challenge of technological and legal adaptation

However, agencies do not lose sight of the risks. The approach is to ensure that banks do not adopt crypto services without the support of adequate risk management systems. The underlying technology changes rapidly, and regulatory frameworks must be kept updated without losing robustness.

Thus, although it is not about new formal demands, the message for banks is clear: guarding cryptoactive implies technical, legal and operational commitments that must be managed with the same seriousness as any other financial service.

The joint statement, therefore, can be seen as a step towards greater maturity of the American regulatory framework for cryptocurrencies, in which agencies seek balance between innovation and financial stability.

Article written by a content editor. Edited by Angel Di Matteo / Diariobitcoin

Original image of Diariobitcoin, created with artificial intelligence, for free use, licensed under public domain

WARNING: Diariobitcoin offers informative and educational content on various topics, including cryptocurrencies, AI, technology and regulations. We do not provide financial advice. Cryptactive investments are high risk and may not be adequate for all. Investigate, consult an expert and verify the applicable legislation before investing. I could lose all its capital.

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