The Federal Deposit Corp. Banks will no longer ask the banks to obtain a prior signature before engaging in cryptographic activities – a standard which was set in 2022 and which has effectively broken the institutions of the digital asset sector when they were waiting for approvals that never came.
The FDIC, which is the main federal supervisor of thousands of typically smaller banks and manages the drying of the government of the banking industry, had occupied an important role in the saga of the speaking of cryptography. An audience fight with Crypto Exchange Coinbase had recently unveiled dozens of letters between the regulator and the banks she supervised. In this correspondence in 2022, the FDIC asked them to avoid new questions from crypto while it had disabled policies, although the agency never developed bankers and left.
The new industry directives published on Friday come after President Donald Trump has raised user -friendly crypto leadership with the FDIC and other financial regulators and ordered its administration to open doors to industry.
“With today’s action, the FDIC is turning the page on the erroneous approach for the last three years,” said the acting president of the FDIC, Travis Hill, in a 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.”
Read more: Trump’s chief of FDIC rethink the cryptography councils while the American senators have probed the gambling
Banks that were formerly to obtain pre-approbations on cryptographic issues can now move forward, as long as they appropriately envisage risks.
Bo hines, the director of the White House of his Digital Asset Council, the advisers applauded the FDIC decision in an article on social networks, calling it a “huge step forward”.
The orientations aimed at looking for pre-approbations were a common position in the three American banking agencies, including the federal reserve and the currency controller office. The OCCT also acted recently to cancel its similar guidelines in 2022, which had emerged while the digital asset sector was beset by failure and high -level fraud, and Global Exchange FTX was heading for a disaster.
Read more: WOI says that banks can engage in the warning of cryptography and certain Stablecoin activities
Update (March 28, 2025, 18:42 UTC): Add comments from a White House official.
