fdic says banks don't need prior approval for crypto activities. - FDIC Says Banks Can Engage In Bitcoin And Crypto Without Prior Approval
The Federal Deposit Insurance Corporation (FDIC) has issued new guidance allowing banks it supervises to engage in bitcoin and crypto activities without seeking pre-approval. This reverses a controversial policy imposed under the Biden administration.
In a March 28 statement, the FDIC said banks can now participate in crypto-related services like custody and trading if they properly manage the risks. The agency will also work to replace old regulations with updated crypto guidance.