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The Federal Reserve is sunsetting its novel activities supervision program, which was was started in 2023 to monitor certain fintech and crypto activities in banks.
What’s the Scoop?
- Winding Down Special Supervision: The Fed is ending a Biden-era "novel activities supervision program" for bank fintech and crypto activity.
- Oversight Continues: Having gained insights into how to regulate the risks of new-age banking practices, the Fed will use its learnings to oversee such activities via standard banking supervision procedures.
Bankless Take:
While many commentators got the impression that the Fed will outright end crypto supervision, this is not true. Instead, the banking regulator is rolling crypto oversight into its standard supervisory processes.
@federalreserve announces it will sunset its novel activities supervision program and return to monitoring banks’ novel activities through the normal supervisory process: https://t.co/GRhepriDhY
— Federal Reserve (@federalreserve) August 15, 2025
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