03.30.25

FDIC Says Banks Can Engage in Crypto Activities Without Prior Approval

by: Pete Schroeder

The U.S. Federal Deposit Insurance Corporation (FDIC) announced that banks do not need to receive advance permission to engage in some crypto-related activities, reversing previous policy. "The FDIC is turning the page on the flawed approach of the past three years," said Acting FDIC Chair Travis Hill in a statement, adding there will be additional moves in the future to clarify banks' engagement with crypto products and services. The announcement comes after the U.S. Office of the Comptroller of the Currency also moved to make it easier for banks to move into the crypto sector.

Read the full article on Reuters