US – Federal Deposit Insurance Corporation says banks don’t need prior approval for crypto activities

The Federal Deposit Insurance Corporation (FDIC) issued a Financial Institution Letter (FIL-7-2025) that provides new guidance for FDIC-supervised institutions engaging or seeking to engage in crypto-related activities. The new guidance, which rescinds FIL-16-2022, clarifies that FDIC-supervised institutions may engage in permissible crypto-related activities without receiving prior FDIC approval.

„The guidance affirms that FDIC-supervised institutions may engage in permissible activities, including activities involving new and emerging technologies such as crypto-assets and digital assets, provided that they adequately manage the associated risks.” – according to the press release.

“With today’s action, the FDIC is turning the page on the flawed approach of the past three years,” said FDIC Acting Chairman Travis Hill. “I expect this to be one of several steps the FDIC will take to lay out a new approach for how banks can engage in crypto- and blockchain-related activities in accordance with safety and soundness standards.” 

The FDIC will continue to engage with the President’s Working Group on Digital Asset Markets and expects to issue further guidance in the future to provide additional clarity regarding banks’ engagement in particular crypto-related activities. The FDIC will also work with the other banking agencies to replace interagency documents related to crypto-assets with further guidance or regulations.

The decision is part of a wider relaxation of crypto rules under the Trump administration. Earlier this month, the Office of the Comptroller of the Currency made a similar announcement and last week, the CFTC withdrew its advisory on virtual currency derivative listings.