On August 15, the Federal Reserve Board announced that it has rescinded its 2023 supervisory letter establishing the Novel Activities Supervision Program (NASP). The program had focused on overseeing banks’ involvement in crypto assets, distributed ledger technology, and fintech partnerships. The Fed explained that it has “strengthened its understanding” of these activities and will return to supervising them through the standard supervisory process.Continue Reading Federal Reserve Ends Novel Activities Supervision Program for Crypto and Fintech Oversight