The Federal Deposit Insurance Corporation (FDIC) has issued and clarified new guidelines on 28 March that FDIC-counseled banks can participate in crypto-related activities without first obtaining the approval of the agency, on condition that they manage the associated risks by security and solidity standards.
The announcement, published as Financial institutional letter (FIL-7-2025)Insert FIL-16-2022 and marks an important policy shift for the agency.
Acting chairman Travis Hill stated:
“With today’s action, the FDIC is running the page about the lack of approach for the past three years. I expect that this is one of the many steps that the FDIC will take to determine a new approach for how banks can participate in crypto and blockchain-related activities in accordance with safety and noise standards.”
The FDIC said it will continue to work with the President’s working group in financial markets to give additional guidelines and to coordinate with other regulatory authorities to replace previous Interagency documents on digital assets.
The executive director of the presidential working group for digital assets, Bo Hines, called the Decide “a huge step forward to innovation and adoption.”
The decision of the Agency reflects a broader effort to reset his approach to financial innovation.
‘Break’ letters
In recent years, various banks have reported that are striving for digital assets activities, receiving informal ‘break’ letters that instruct them to stop involvement in crypto services, including custody, tokenized deposits and even basic offers in the retail trade.
The figures of the Crypto industry said these decisions were part of “Operation ChokePoint 2.0”, an alleged effort from the administration of former President Joe Biden to hinder the growth of the Crypto industry in the US.
Hill has criticized the actions For the lack of transparency and the contribution to a perception that the FDIC innovation discouraged by non-public enforcement tactics.
In a speech in January, he acknowledged that the agency had not offered banks, instead opted for ad hoc interventions.
He mentioned the more than 20 cases in which banks had received and asked letters to stop or postpone crypto-related activities without formal regulations or open comment periods.
Call to evaluate again
Hill emphasized that compliance with the Bank Secrecy Act should not be used as a pretext for refusing access to banking services and proclaimed a re -evaluation of how the BSA is implemented in financial institutions.
Recent internal discussions at the FDIC-Haven were again focused on allowing banks to pursue tokenized deposits and other blockchain-based financial infrastructure after unnecessary delays on the regulations.
The relocation brings the FDIC in closer coordination with other supervisors, such as the US Securities and Exchange Commission (SEC), which has started formalizing crypto control frameworks.
It is also in the midst of growing pressure from participants in industry and legislators for banking regulators to offer a consistent, transparent route map for legal crypto-related services.
