Key takeaways
The Federal Reserve regulates banks, so it only monitors cryptocurrencies held by banks in the United States.
The top U.S. banking regulator is assessing the launch of a Central Bank Digital Currency (CBDC), a cryptocurrency version of the dollar.
Cryptocurrency exchanges and companies may be regulated by other state and federal agencies.
Cryptocurrencies made big news as prices skyrocketed, turning investors into overnight millionaires. When anything big happens in a financial market in the U.S., you can expect regulators won’t be far behind. Among other agencies, the crypto revolution caught the attention of the Federal Reserve, America’s central bank, and a top financial regulator.
Here’s what you need to know as a crypto trader and investor, considering how regulations may influence your crypto going forward.
Cryptocurrency 101
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