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FOX Business reporter Eleanor Terrett revealed that the outgoing Federal Reserve's Michael Barr gave a speech on bank decentralization and encryption regulation at the New York Council on Foreign Relations this afternoon. Barr stated that the Federal Reserve is trying to take a "neutral" stance on these issues. The expectation of the Federal Reserve is for them to conduct business in a safe and robust manner, complying with consumer law, anti-money laundering laws, and anti-terrorism financing laws. If they do so, we have no objections. "The Federal Reserve has an innovative regulatory plan aimed at overseeing institutions in this field to ensure we possess the professional expertise necessary for proper execution within it. Some institutions are doing this while others have made mistakes and gotten into trouble either due to money laundering or banking secrecy issues or because they were unable to meet their customers' liquidity needs which led them into bankruptcy. So, at least for me, it's just straightforward middle-level risk management and banking business. If you do it right, you can achieve it; if not done correctly then you shouldn't be doing it." Barr also stated he had never personally seen evidence of clients having their bank accounts cancelled due to political views.

1. Cryptography startup Altius Labs completes $11 million Pre-Seed funding round. 2. Curve founder is developing a new project, Yield Basis, and has completed $5 million in financing. 3. Crypto security platform Blockaid completes $50 million Series B funding round, led by Ribbit Capital.