The Congressional Research Service of the United States has released a report exploring legislation and regulatory standards for bank cryptocurrency business

On September 30th, the Congressional Research Service released a report on Crypto and Bank Permissible Activities, stating that US banks conducting cryptocurrency business must meet two standards: whether it belongs to banking business and whether it affects the security and stability of banks. The report states that since 2017, banking regulatory agencies have adjusted their encryption policies in response to government changes, and Congress can pass legislation to clarify the scope of business or grant regulatory agencies discretion. The report points out that there are differences in the scope of authorization for bank encryption services between the House and Senate versions of the CLARITY Act, with the Senate version proposing to allow banks to engage in 11 types of encryption services.