The FDIC clarifies the process so that the banks engage in activities related to cryptography

Washington-Today, the Federal Deposit Insurance Corporation (FDIC) has published a letter from financial institution (FIL-7-2025) which provides new advice for institutions supervised by the FDIC engaging or seeking to engage in activities related to the crypto. The new advice, which cancels Thread-16-2022Specifies that the institutions supervised by the FDIC can engage in activities related to authorized cryptography without receiving the prior approval of the FDIC.

The directives claim that the institutions supervised by the FDIC can engage in authorized activities, including activities involving new and emerging technologies such as crypto-active and digital assets, provided that they adequately manage the associated risks.

“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. “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 will continue to engage with the president’s working group on the digital asset markets and plans to issue additional advice in the future in order to provide additional clarity concerning the commitment of banks in activities related to crypto. The FDIC will also work with other banking agencies to replace the inter-listings related to cryptocurrencies with additional directives or regulations.