Report: Banking regulators view digital assets as a threat to the security of banking and traditional finance
Banking regulators view digital assets as a threat to the security of the banking industry and the broader traditional financial industry, according to a Feb. 14 report from S&P Market Intelligence. While the U.S. agency has yet to issue formal rules, industry experts told S&P Global Market Intelligence that regulators have made their stance clear.
The report provides a timeline of guidance issued by the regulator for banks dealing with crypto assets. The timeline begins with a 2021 letter issued by the Office of the Comptroller of the Currency requiring national banks and thrifts to disclose their intentions to engage in certain cryptocurrency activities and obtain a NOC to do so.
