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# Federal Reserve Sunsets Novel Activities Supervision Program, Integrates Crypto and Fintech Oversight into Standard Framework
- URL: https://www.theglobalbanker.com/federal-reserve-sunsets-novel-activities-supervision-program-integrates-crypto-fintech/
- Published: 2025-08-15T14:30:00.000Z
- Updated: 2026-11-05T13:57:14.000Z
- Description: The Federal Reserve has formally discontinued its Novel Activities Supervision Program, folding crypto and fintech oversight into its standard supervisory framework.
- Author: TGB Editorial Team
- Tags: Regulations, Americas, #archive

The Federal Reserve has formally discontinued its Novel Activities Supervision Program, the dedicated supervisory programme established in 2023 to oversee banks engaged in cryptocurrency and financial technology activities, absorbing its functions into the agency's standard supervisory process.

The decision was announced on 15 August 2025\. Rather than running a dedicated programme for crypto and fintech activities, the Fed is moving to treat these activities as components of a bank's ordinary risk profile, to be assessed alongside conventional risks such as credit, liquidity, and operational exposure.

#### PROGRAMME AND SR 23-7 WITHDRAWN

Under the Novel Activities Supervision Program, the Federal Reserve had run a risk-focused programme, working alongside existing supervisory teams, to oversee banks engaged in digital asset custody, tokenised deposits, stablecoin issuance, and blockchain-based payment rails. The Fed also withdrew SR 23-7, the 2023 supervisory letter that created the programme; a separate 2023 requirement for state member banks to obtain supervisory non-objection before engaging in certain dollar-token activities had already been rescinded in April 2025.

By folding those responsibilities into the standard supervisory framework, the Fed said it has strengthened its understanding of these activities, their risks and banks' risk-management practices, and is integrating that knowledge to be assessed through the standard supervisory process. Examiners across the Federal Reserve System will now evaluate digital-asset-related activities as part of routine safety-and-soundness reviews, with the nature and complexity of a bank's crypto activities informing the intensity of supervisory attention it receives, as they would for any other line of business.