FDIC working on new crypto guidelines, eyes public blockchain use by banks
The Federal Deposit Insurance Corporation (FDIC) is formalizing a more permissive and transparent framework for US banks engaging with crypto, including the use of public, permissionless blockchains.
In remarks delivered at the American Bankers Association Washington Summit on April 8, FDIC Acting Chairman Travis Hill addressed the agency’s evolving stance on crypto-related activities.
Guidelines for engagement with public blockchains
One key area under review involves the interaction between regulated banks and public, permissionless blockchains.
Hill acknowledged that while jurisdictions outside the US have permitted banks to use public chains for several years, US banking regulators have maintained a significantly more cautious…
