TechFlow, July 15 — According to an official announcement, the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency jointly issued a supervisory statement regarding banking institutions providing cryptocurrency custody services. The statement clarifies that banks may offer cryptocurrency custody services in either a fiduciary or non-fiduciary capacity, but must strictly manage security risks associated with cryptographic keys. Regulators emphasized that banks must establish a robust risk management framework, including secure key generation and storage, anti-money laundering compliance, third-party risk management, and comprehensive audit procedures. This guidance applies to cryptocurrency custody activities under the existing regulatory framework and does not establish new supervisory expectations.
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