ANALYSIS: Federal Bank Regulators Move on Digital Assets in 2021

Federal banking regulators announced actions in May to address regulation of digital asset activity in their areas of jurisdiction after years of criticism of fragmented federal regulation of the emerging asset class. Businesses interested in the development of digital asset markets should follow these regulatory initiatives and, where their interests are at stake, take advantage of the opportunity to submit comments and influence these initiatives at their outset.

Seven Years of Federal Regulator Action

Federal regulatory action on digital assets began in 2013, but agencies have become involved mainly when compelled by events. Use in money laundering and other financial ...