FDIC Removes Prior-Approval Requirement for Permissible Bank Crypto Activities
The FDIC rescinded its 2022 prior-notification regime and said FDIC-supervised banks could engage in permissible crypto-related activities without first receiving agency approval.
On March 28, 2025, the Federal Deposit Insurance Corporation issued new guidance clarifying that FDIC-supervised banks could conduct permissible crypto-related activities without receiving prior FDIC approval. The agency rescinded its 2022 letter that had required institutions to notify the FDIC before engaging in such activity.
Banks remained responsible for safety and soundness, consumer protection, and applicable legal requirements. The change concerned process: crypto-related banking activities would no longer automatically begin with a special prior-approval hurdle.
Together with the OCC's March 7 action and the Federal Reserve's later April withdrawal of special guidance, the FDIC move formed part of a broader shift toward supervising Bitcoin- and digital-asset-related banking activity through more conventional regulatory channels.