THE Federal Deposit Insurance Corporation (FDIC) provided new guidelines on Friday March 28 saying that institutions supervised by the FDIC can engage in activities related to the crypto without receiving the prior approval of the FDIC, provided that they adequately manage the associated risks.
The FDIC provided these new directives in a letter from financial institution (FIL-7-2025) which cancels a earlier (Thread-16-2022), he said in a Friday press release.
Previously, under the direction which is now canceled, the FDIC required a prior notification of the activities related to the crypto, according to the letter from the financial institution on Friday.
“With today’s action, the FDIC is turning the page on the defective approach of the last three years,” said the acting president of the FDIC Travis hill said in the press release. “I expect it to be one of the many stages that the FDIC will take to define a new approach on how banks can engage in activities related to crypto and blockchain in accordance with safety and solidity standards.”
The FDIC plans to issue additional advice in order to provide additional clarity concerning “banks” in activities related to specific cryptography “and will work with other banking agencies to provide additional advice or regulations that will replace current interancic documents linked to cryptographic assets, according to the press release.
This announcement occurred three weeks after another banking agency, the Currency controller office (OC), has recladed certain cryptographic banking authorizations.
On March 7, the fact published Letter of interpretation 1183 To confirm that the custody of cryptocurrencies, certain Stablecoin activities and participation in independent verification networks of nodes such as the large distributed book are authorized to national banks and federal savings associations.
“The OUC expects the banks to have the same strong risk management controls to support new banking activities as for traditional activities”, the interim controller of the currency Rodney E. Hood Said at the time in a press release. “Today’s action will reduce the burden of banks to engage in activities related to crypto and guarantee that these banking activities are treated in a coherent manner by the OCC, whatever the underlying technology.”
It was reported in February that Coinbase, the largest crypto exchange in the country, was putting pressure on American regulators to make the partnerships of cryptocurrency more feasible.
The effort occurred in the middle of a landscape of digital assets changing to the United States after the arrival of a new Pro-Crypto administration in Washington, Pymnts reported at the time.
