Bank regulators will team up to develop crypto rules next year

Federal bank regulators will spend part of next year laying out rules for how banks can participate in the booming cryptocurrency sector, according to a joint statement Tuesday from three agencies.

The symbols for Bitcoin and Ethereum cryptocurrency are displayed on a screen during the Crypto Investor Show in London on March 10, 2018. Foto: Bloomberg/Mary Turner

The Federal Reserve, the FDIC and the Office of the Comptroller of the Currency aren't proposing any new regulations, yet. But they plan to coordinate next year "to provide greater clarity on whether certain activities related to crypto-assets conducted by banking organizations are legally permissible," they said in a statement.

That agenda includes ensuring that financial institutions remain stable - and consumers protected - as they facilitate buying and selling crypto assets, issue crypto-backed loans and issue the digital tokens known as stablecoins...

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