The US Federal Reserve (Fed) has announced the end of its cryptocurrency and fintech monitoring program, which was launched in August 2023. This initiative aimed to evaluate the risks banks faced when engaging in digital asset transactions.
Conclusion of Special Fed Program
The Fed has terminated the program that analyzed risks associated with deposits, payments, and loans involving companies in the digital asset sector. Insights gained during the program will now be integrated into the standard bank supervision process.
Regulatory Policy Changes
Analysts indicate that this decision does not necessarily signal a relaxation of requirements but reflects shifts in US regulatory policy. The Trump administration has shown a more lenient attitude towards digital asset regulation. Since January 2025, the SEC has dropped several investigations into cryptocurrency firms, while the Treasury explores the creation of a national cryptocurrency reserve.
Personnel Changes at the Fed
The Fed is also undergoing personnel changes. Board of Governors member Adriana Kugler resigned on August 8, with Stephen Miran, head of the Council of Economic Advisers, appointed as interim successor until a permanent candidate is selected in January. Experts believe this move is designed to strengthen the administration's influence over the institution.
The issue of Fed leadership remains politically sensitive. Trump continues to openly criticize Chairman Jerome Powell, whose term ends in May 2026, and has attempted to pressure him to lower the key interest rate.
