The Federal Reserve has revealed its plans for crypto regulation in the future.
The US financial officials revealed a list of their planned intentions for regulating cryptocurrencies on Tuesday, as well as a new regulation requiring institutions to get approval before investing in crypto initiatives.
The document stated that as supervised institutions seek to engage in crypto-asset-related activities, the agencies must provide coordinated and timely clarity where appropriate while also requesting more clarity in commonly used crypto terminology, a more precise risk assessment, and analyses of existing regulations.
The Federal Reserve and other banking institutions have expressed interest in clarifying which crypto-asset operations are lawful and should shed light on the topic in 2022.
The schedule does not seek to amend any of the current regulations. However, given their desire to thoroughly examine the entire crypto industry, further changes to current legislation are not entirely out of the question. The financial road map also implies that Tokens will be regulated in the same way that banks handle their traditional assets.
However, the bottom line appears to be that the restrictions are not changing right now but may change in the future.