<ul data-eligibleForWebStory="true"><li>The Federal Reserve Board has removed 'reputational risk' from its formal bank examinations and supervision programs, impacting the way banks deal with controversial industries like crypto.</li><li>Legislative efforts such as the GENIUS Act and a new bill aim to create oversight frameworks for stablecoins and digital assets, potentially opening doors for Wall Street to enter the crypto market.</li><li>The removal of reputational risk signals a shift towards risk-based supervision focused on financial stability and consumer protection rather than values-based supervision.</li><li>Banks are showing increased interest in digital-first financial products, with a growing number of younger consumers opting for digital-only banks, indicating a potential shift towards integrating crypto into banking services.</li></ul>

Fed Drops ‘Reputational Risk’ Rule, Paving Way for Banks to Enter Crypto

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