Federal Reserve besides rescinding its 2022 supervisory letter about advance notification of crypto-asset activities, is also rescinding its 2023 supervisory letter that impacted banks' involvement in stablecoin activities due to previously cited risks related to financial stability, consumer protection, and illicit finance

Event date

April 24, 2025

Quotes that support claims

Its guidance initially flagged that crypto may pose risks related to safety and soundness, consumer protection and financial stability of the American financial system. ”Certain types of crypto-assets, such as stablecoins, if adopted at large scale, could also pose risks to financial stability including potentially through destabilizing runs and disruptions in the payment systems.” The Federal Reserve also flagged that crypto is commonly used for money laundering and counter-terrorism financing at the time.

The Federal Reserve is also rescinding its 2023 supervisory letter that impacted how state banks could engage in stablecoin activities.

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Week 17 of 2025