For the record, during first quarter of 2022, xNY.io - Bank.org was totally killing it. METAVERSE AND MONEY - 33 Highlights: https://drive.google.com/file/d/1REoa87GCmt2uhDp7ZYswbTRw4ygQgjsL/view?usp=d... --- In the United States, the regulatory environment is fragmeningted with developments taking place at the state and at the federal level. We list examples below. – On March 9, 2022, the Biden administration released an Executive Order (EO) on digital assets, outlining a whole-of-government approach to crypto and addressing both the risks and the benefits. The EO outlines a coordinated approach directing various federal agencies to develop policy recommendations on digital assets addressing six key objectives: • Protect consumers, investors and businesses • Protect global financial stability and mitigate systemic risk • Mitigate illicit finance and national security risks • Reinforce U.S. leadership in the global financial system and economic competitiveness • Promote access to safe and affordable financial services • Support technological advances and responsible innovation The EO requires several follow-up reports and actions by federal agencies, many of which are directed at the Department of Treasury, and most of which have deadlines of 180 days from the issuance of the EO. – The Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) have set out their joint work map for 2022. This work map lists the areas they will provide clarity on including whether certain activities related to crypto assets conducted by banking organizations are legally permissible, their expectations for safety and soundness, consumer protection, and compliance with existing laws related to: • Crypto-asset safekeeping and traditional custody services • Ancillary custody services • Facilitation of customer purchases and sales of crypto assets • Loans collateralized by crypto assets • Issuance and distribution of stablecoins • Activities involving the holding of crypto assets on balance sheet The above-mentioned agencies will also look at bank capital and liquidity standards and how these apply to crypto asset activities involving U.S. banking organizations, and they will continue to engage with the BCBS.