The federal policies on banks issuing dollar-denominated tokens
Board of Governors of the Federal Reserve System (Board) has made a policy statement on banks issuing dollar-denominated tokens: The Board generally believes that issuing tokens on open, public, and/or decentralized networks, or similar systems is highly likely to be inconsistent with safe and sound banking practices. The Board believes such tokens raise concerns related to operational, cybersecurity, and run risks, and may also present significant illicit finance risks, because—depending on their design—such tokens could… Read More »The federal policies on banks issuing dollar-denominated tokens