According to @rovercrc, the Federal Reserve has ended its supervision program for U.S. banks’ Bitcoin and crypto activities, but the post provides no official Federal Reserve announcement or SR letter, so the claim is unverified and should be treated as headline risk until confirmed. Source: Crypto Rover on X (Aug 16, 2025). The Federal Reserve previously launched the Novel Activities Supervision Program in August 2023 to oversee state member banks’ crypto-asset, distributed ledger, and stablecoin activities, alongside supervisory guidance on dollar stablecoin activities (SR 23-8). Source: Federal Reserve Board press release (Aug 8, 2023) and SR 23-8 (Aug 8, 2023). Traders should wait for confirmation via an official Federal Reserve Board press release or an updated SR/CA letter—consistent with how the NASP and SR 23-8 were announced on Aug 8, 2023—before repositioning in BTC or U.S. crypto-exposed equities. Source: Federal Reserve Board press release (Aug 8, 2023) and SR 23-8 (Aug 8, 2023).

According to @EleanorTerrett, a banking lawyer said the Federal Reserve's Novel Activities Supervision Program was a major catalyst for Operation Chokepoint 2.0 (source: @EleanorTerrett on X, Aug 15, 2025). According to @EleanorTerrett, the Fed has not yet rescinded all anti-crypto guidance from the Biden era (source: @EleanorTerrett on X, Aug 15, 2025). Based on @EleanorTerrett's report, this signals ongoing regulatory pressure on U.S. bank-crypto activities, a headline risk traders track for effects on crypto market liquidity and access (source: @EleanorTerrett on X, Aug 15, 2025). Traders should monitor any Federal Reserve guidance changes as potential catalysts for U.S. crypto market conditions (source: @EleanorTerrett on X, Aug 15, 2025).

According to Cas Abbé, the Federal Reserve has ended the program that increased bank scrutiny of crypto, while the crypto market traded down on the headline, indicating a potential disconnect between news and price action; source: Cas Abbé, X post dated Aug 15, 2025. The program referenced is the Fed’s Novel Activities Supervision Program, established in August 2023 to heighten oversight of state member banks’ crypto-related activities; source: Federal Reserve Board press release dated Aug 8, 2023, and supervisory letter SR 23-7. Under SR 23-8, state member banks seeking to engage in certain dollar-token (stablecoin) activities were required to obtain supervisory nonobjection, adding steps that affect bank-crypto relationships relevant to exchanges and stablecoin issuers; source: Federal Reserve Board supervisory letter SR 23-8, August 2023. Because stablecoins facilitate trading liquidity and settlement across crypto markets, any change to bank oversight around these activities can influence BTC and ETH market liquidity and pricing; source: President’s Working Group on Financial Markets, Report on Stablecoins, November 2021. Traders should watch for an official Federal Reserve update clarifying the status of SR 23-7 and SR 23-8 to gauge the scope and timing of any impact on bank-crypto rails and stablecoin flows before positioning; source: Federal Reserve Board supervisory letters SR 23-7 and SR 23-8, and Cas Abbé, X post dated Aug 15, 2025.