# Federal Reserve withdraws crypto and dollar-token notification and nonobjection guidance

> The Federal Reserve withdrew prior guidance directing supervised banks to notify the Board before crypto activities and establishing a written nonobjection process for dollar-token activities. Crypto and dollar-token activities remain subject to ordinary legal and safety-and-soundness supervision.

- URL: https://riadefi.com/regulation/2025-04-24-federal-reserve-crypto-guidance-withdrawals/
- Posture: Guidance
- Authorities: Board of Governors of the Federal Reserve System
- Event date: 2025-04-24
- Version: 1, published 2026-08-07 (first published 2026-08-07)
- Advisor-relevant: yes

## What changed

The Federal Reserve withdrew prior guidance directing supervised banks to notify the Board before crypto activities and establishing a written nonobjection process for dollar-token activities. Crypto and dollar-token activities remain subject to ordinary legal and safety-and-soundness supervision.

## Who it affects

- Federal Reserve-supervised banking organizations
- Advisers evaluating bank stablecoin, custody, and settlement counterparties

## What is still open

- Whether replacement joint-agency guidance will be issued
- How reserve-bank and Board exam practices will converge

## What it means for an advisor

- Refresh counterparty questionnaires that assumed a special Federal Reserve nonobjection
- Continue evaluating actual control, liquidity, redemption, operational, and legal risks

## Previous interpretation

Covered banks were expected to provide advance notice and, for dollar-token activities, receive written supervisory nonobjection.

## Sources

1. [Federal Reserve Board announces withdrawal of guidance for banks related to their crypto-asset and dollar token activities](https://www.federalreserve.gov/newsevents/pressreleases/bcreg20250424a.htm) · Board of Governors of the Federal Reserve System · 2025-04-24


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Published by Ketju Research on RIADeFi (https://riadefi.com). Educational research for financial professionals; not investment, legal, tax, or compliance advice.