Definition ∞ Federal Banking Agencies refer to the primary governmental bodies in the United States responsible for supervising and regulating banks and other financial institutions. These agencies include the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation. Their mandates cover safety and soundness, consumer protection, and ensuring fair and competitive financial markets. These entities play a central role in maintaining financial system stability.
Context ∞ These federal banking agencies are actively developing regulatory guidance and supervisory expectations for banks engaging in crypto-related activities. Discussions often involve assessing the risks associated with digital assets, such as volatility, illicit finance, and operational vulnerabilities. A critical future development involves the harmonization of regulatory approaches across these agencies to provide clarity for financial institutions. News frequently reports on joint statements, advisories, and proposed rules issued by these governmental bodies concerning digital assets.
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