The Federal Reserve, FDIC, and OCC jointly issued a statement clarifying the rules related to banks holding customers' encrypted assets

Odaily Planet Daily News: The Office of the Superintendent of Currency (OCC), Federal Reserve Board (Fed), and Federal Deposit Insurance Corporation (FDIC) have jointly issued a statement requiring banks to strictly comply with existing laws and regulations and strengthen risk management when providing cryptocurrency custody services. The statement emphasizes that banks need to conduct comprehensive risk assessments and controls on key management of encrypted assets, third-party custody, network security, compliance, and anti money laundering. At the same time, banks should ensure that relevant personnel have the necessary technical capabilities, improve customer agreements, and conduct regular internal and external audits to ensure the safety of customer assets. The statement also added that no new regulatory requirements were established in this release.