Federal Reserve removes 'reputational risk' from bank examinations in a 'win' against crypto debanking

币界网报道:The U.S. Federal Reserve has revised its bank examination program by removing the concept of "reputational risk" and replacing it with more specific financial risk discussions, according to a Monday announcement. This change aims to provide clearer supervisory guidelines and could potentially ease banking access for crypto firms that have faced "debanking" challenges. The Fed emphasized that the adjustment doesn't alter expectations for strong risk management practices. Pro-crypto Senator Cynthia Lummis welcomed the move but noted more work remains. The Fed follows similar actions by the OCC and FDIC to eliminate reputational risk assessments, amid industry complaints about banking difficulties exacerbated after FTX's collapse. Critics, including former President Trump, have accused the Biden administration of pressuring banks to sever ties with crypto businesses through what some call "Operation Chokepoint 2.0."

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