Definition ∞ Banking agency oversight involves the supervision and regulation of financial institutions by governmental bodies. These agencies establish and enforce rules to maintain financial stability, protect consumers, and ensure sound operational practices within the banking sector. Their responsibilities span licensing, compliance monitoring, and intervention when institutions deviate from regulatory standards.
Context ∞ The extension of banking agency oversight to entities dealing with digital assets remains a prominent discussion point for regulators worldwide. As traditional banks engage with cryptocurrencies, existing supervisory frameworks are being adapted to account for new risks and operational models. This ongoing adaptation seeks to balance innovation with systemic stability and consumer protection.
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