The Fed’s Sneaky Little Dismissal of Crypto Oversight: Banks Back in the Game! 😉

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Oh darling, it seems the Federal Reserve has finally decided that kryptonite and bank oversight make a smashing combo – so they’ve quietly handed the crypto crackdown a one-way ticket to oblivion, all while pretending it’s just a bit of housekeeping. Bravo! 💅

The Fed Just Rolled Up the Carpet on Crypto Surveillance – Darling, It’s All in the Family Again

On August 15, 2025, amidst much fanfare (or none at all), the ever-secretive Federal Reserve Board announced it was pulling the plug on its oh-so-sensitive Novel Activities Supervision Program – an elaborate scheme to keep tabs on banks flirting with anything remotely digital and daring. Secret Plan They’re returning to the good old days, blending crypto and fintech oversight into their usual bespoke routine, with just a little more jazz hands.

The Board cheekily declared, “To make life easier, we’re officially saying sayonara to our novel activities supervision program. From now on, we’ll keep an eye on those naughty digital activities… the usual way, darling.” 😏

Originally launched under the imposing supervisory letter SR 23-7 in August 2023 (darling, all the best efforts are labelled so fancy), it aimed to corral crypto custody, stablecoins, tokenized assets, and API partnerships. A risk-based framework, a bit like a good corset-tight but necessary to prevent… well, chaos. But now, it’s back to tea time, with oversight blended into the usual supervisory nonsense, making things more streamlined, chic, and maybe a tad less suspicious.

The news was met with a standing ovation from the crypto fans and lawmakers alike. Senator Cynthia Lummis, quite the cheerleader, tweeted:

Big win for ending Operation Chokepoint 2.0. The Fed’s tossing out its crypto-ops and giving banks a free pass-progress, darlings! Here’s to a level playing field. 🎩✨

The House Financial Services Committee piped in:

Hooray for the Fed’s disappearing act on the Novel Activities Supervision! We sent them a stern note last year, but now they’re back to normal – and maybe even better. Digital assets: here’s looking at you, future! 🚀

Some clever regulatory types warn this might make protections seem a tad, let’s say, optional, as fintech enthusiasm surges. But supporters argue – no fuss, no muss – a unified oversight makes the game more fair and dare I say, a little more glamorous.

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2025-08-17 05:57