See also Department of the Treasury, National Terrorism Financing Risk Assessment (Washington: Department of the Treasury, February 2022), 21-23, https://home.treasury.gov/system/files/136/2022-National-Terrorist-Financing-Risk-Assessment.pdf. -7supervised banks have been limited in the aggregate thus far, recent experience has made it clear that crypto could pose risks to those banks.
In response, we have worked with the other federal bank regulatory agencies to provide clarity and guidance on what is permissible, safe and sound, and compliant with anti-money-laundering and anti-terrorist financing laws as well as consumer and investor protections. And we’ve set out our supervisory expectations for banks engaging with new product types and activities.