FDIC says banks can engage in crypto activities without prior approval
The FDIC issued Financial Institution Letter (FIL-7-2025) on March 28, 2025, removing prior approval requirements for banks’ crypto-related activities. Acting Chairman Travis Hill announced a significant policy shift, allowing FDIC-supervised institutions to engage in crypto-related activities without pre-approval, effectively reversing the restrictive approach from 2022.
Key Actors
Sources (4)
- FDIC says banks can engage in crypto activities without prior approval (2025-03-28)
- FDIC rescinds guidance around banks and crypto (2025-03-28)
- FDIC Clarifies Process for Banks to Engage in Crypto-Related Activities (2025-03-28)
- FDIC Reverses U.S. Crypto Banking Policy That Demanded Prior Approvals (2025-03-28)
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