- The FDIC has released a new crypto policy that replaces an earlier guidance which had reduced engagement in crypto activities.
- The U.S. banking regulator issued the new guidance in a press release on March 20, 2025.
On Friday, March 28, 2025, the U.S. Federal Deposit Insurance Corporation (FDIC) announced that it is rescinding prior guidance that required banks to notify the agency before engaging in crypto-related activities.
The move reflects a new approach under the administration of President Donald Trump intended to streamline how financial institutions interact with digital assets and blockchain technology.
FDIC reverses crypto policy
With this policy reversal, banks and other supervised financial institutions are no longer required to report current or planned crypto-related activities to the FDIC. Previously, the FDIC had cited potential risks to the stability of the U.S. banking system as the rationale for such reporting requirements.
The earlier guidance appeared in the agency’s Financial Institution Letter (FIL-16-2022), issued in April 2022. The updated guidance eliminates that reporting requirement, allowing FDIC-supervised banks to conduct permissible crypto-related activities without first obtaining advance approval from the agency.
“The FDIC rescinds FIL-16-2022 and provides new guidance to clarify that FDIC-supervised institutions may engage in permissible crypto-related activities without obtaining prior FDIC approval,” the FDIC said in a statement.
The decision is part of a broader effort to align regulation with an evolving digital asset landscape while maintaining oversight to protect financial stability.
The agency emphasized that although banks are now free to explore these activities independently, they must continue to adhere to existing safety and soundness principles — a balance intended to foster innovation without compromising the integrity of the banking system.
“I expect this to be one of several steps the FDIC will take to set forth a new approach for how banks may engage in crypto- and blockchain-related activities consistent with safety and soundness standards,” the FDIC noted.
The announcement is among several pro-crypto developments today, following President Trump’s pardon of three co-founders of the BitMEX cryptocurrency exchange.