The Federal Reserve System of the United States has announced the conclusion of its special program monitoring banking operations in the digital asset sector, which has been in effect since August 2023. This initiative was established to assess the risks associated with banks working with companies providing cryptocurrency services, including deposits, payments, and lending.
This is reported by Finway
Cryptocurrency Regulation Moves to Standard Mode
Reportedly, all developments and experiences gained during the program will be integrated into the regular oversight process for banks. The separate letter outlining the rules for monitoring banking operations with digital assets has been officially revoked. This decision does not necessarily indicate a softening of market requirements; however, analysts note that it reflects a political shift in the United States. The new course of the Donald Trump administration suggests a more flexible approach to regulating the cryptocurrency sector.
“The decision does not necessarily mean a relaxation of requirements, but it reflects a political shift in the US, analysts believe. The Donald Trump administration demonstrates a softer stance on regulating digital assets.”
Changes in Financial Authorities and Political Context
Since the beginning of 2025, the US Securities and Exchange Commission (SEC) has closed several investigations into cryptocurrency companies, while the Department of the Treasury is analyzing the possibility of creating a national cryptocurrency reserve. Within the Federal Reserve itself, there have been personnel changes: Board member Adriana Kugler resigned on August 8, and the head of the Council of Economic Advisers, Stephen Miran, has been appointed as the interim successor. A permanent candidate for this position is expected in January.
Experts link these changes to the Trump administration’s desire to strengthen its influence over the Federal Reserve System’s activities. The issue of Federal Reserve leadership is politically sensitive: Donald Trump regularly criticizes the current chair, Jerome Powell, attempting to influence decisions regarding the key interest rate, whose term expires in May 2026.
Previously, Trump’s ally, Republican Anna Paulina Luna, had called on the US Department of Justice to initiate a criminal case against the chair of the Federal Reserve.