Federal Reserve quietly reverses anti-crypto stance with new policy
The Federal Reserve has withdrawn its restrictive 2023 policy on “novel activities” and replaced it with a new framework.
The new policy creates a clear pathway for banks to engage in digital-asset and blockchain innovation, marking one of the most significant regulatory pivots in years.
The move, announced on 17 December, reverses the Fed’s prior stance, which had limited state member banks to only those activities explicitly allowed for national banks.
The 2023 policy had served as a de facto barrier to crypto-related services, especially custody, tokenization, and stablecoin integrations. Its withdrawal signals a shift toward enabling responsible digital-asset activity within the U.S. banking system.
