A new report from the Congressional Research Service says U.S. federal regulators have repeatedly shifted their stance on whether banks can engage in crypto-related business since 2017, with those changes tracking transitions between presidential administrations. According to a post by Bitcoin News on X, the report says Congress could reduce those policy reversals by passing legislation that clearly permits or restricts specific activities. The report also references the CLARITY Act. In the version passed by the House, banks would be allowed to use digital assets or blockchain for activities already permitted under existing law. A Senate committee report version goes farther by explicitly allowing 11 categories of crypto activity, including broader authority for banks to underwrite and trade digital assets.
Odaily reported that Bitcoin News said in a post on X that a new report from the U.S. Congressional Research Service found federal regulators have changed their position multiple times on whether banks can conduct crypto-related business since 2017, as presidential administrations changed.
The report says Congress could use legislation to clearly allow or restrict specific activities, which would reduce repeated shifts in regulatory positions.
The report cites the CLARITY Act
According to the report, the House-passed version of the CLARITY Act would allow banks to use digital assets or blockchain for activities already permitted under current law.
A Senate committee report version would explicitly allow 11 categories of crypto activity, including broader authority for banks to underwrite and trade digital assets.
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