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Demand Stronger Federal Oversight of Crypto Activities in Banking
Related Article: Federal Reserve removes massive hurdle for crypto bankers - finance.yahoo.com - Saturday, August 16, 2025, 9:53:39 PM Eastern Daylight Time
Target: Federal Reserve Board of Governors
Goal: We urge the Federal Reserve to reinstate robust, specialized supervision for banks engaging in crypto and fintech activities, and to prioritize consumer protection, financial stability, and transparency in the rapidly changing digital asset landscape.
The Federal Reserve's decision to end its 'novel activities' supervision program and return to standard oversight for banks involved in crypto and fintech activities is a step backward for financial accountability. The program was established to address the unique and significant risks posed by crypto-asset custody, crypto-collateralized lending, digital asset trading, and partnerships with non-banks using advanced technologies. These activities have the potential to destabilize the financial system, expose consumers to fraud and loss, and facilitate illicit finance if not properly regulated.
As other regulators also relax their standards, and with the federal government signaling support for increased crypto adoption, the need for strong, independent oversight is more urgent than ever. We call on the Federal Reserve to reverse this decision and implement comprehensive, transparent, and public-facing supervision of all crypto-related banking activities.
Key Demands
- Reinstate a dedicated supervision program for banks engaging in crypto-asset and fintech activities.
- Mandate public reporting and transparency requirements for all banks involved in digital asset services.
- Strengthen consumer protection standards for customers using crypto-related banking products.
- Require rigorous risk assessments and stress testing for banks offering crypto custody, lending, or trading.
- Establish clear guidelines to prevent illicit finance and ensure compliance with anti-money laundering laws.
- Engage with consumer advocates and the public in shaping oversight of digital asset activities.
Sign This Petition
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(C)opyright 2025 - TruthAndResistance.com
(C)opyright 2025 - TruthAndResistance.com