Banks can engage in cryptocurrency and other legally permitted activities without seeking prior regulatory approval, so long as they manage risks appropriately, The Federal Deposit Insurance Corporation announced Friday.
The policy change rescinds a 2022 requirement that mandated FDIC-supervised institutions notify the agency before engaging in crypto-related activities. Under the new guidance, banks can offer services involving digital assets without the agency’s advance permission.
“With today’s action, the FDIC is turning the page on the flawed approach of the past three years,” FDIC Acting Chairman Travis Hill said in a statement. “I expect this to be one of several steps the FDIC will take to lay out a new approach for how banks can…
Apr 19 2025
