Federal Reserve terminates cryptocurrency and DLT regulatory program The Federal Reserve announced the closure of the "New Business Activities" regulatory program established in 2023, which aims to regulate distributed ledger technology (DLT), encrypted assets, and related banking partnerships. The Federal Reserve stated that it currently has a more comprehensive understanding of the relevant risks, and the related activities will be included in routine supervision. In April of this year, the Federal Reserve also revoked multiple regulatory letters related to cryptocurrency. This project had a restrictive impact on blockchain banking plans, hindering the progress of initiatives such as the "American Community Interbank Payment Alliance".