TechFlow news — On March 29, according to CoinDesk, the Federal Deposit Insurance Corporation (FDIC) released a new policy eliminating the 2022 requirement that banks obtain prior approval to engage in cryptocurrency-related activities.
Previously, this rule caused banks to disengage from the digital asset industry due to prolonged delays in approvals. Ahead of the new guidance, the FDIC's Trump-appointed leadership pushed for a more crypto-friendly shift. FDIC Acting Chairman Travis Hill stated the move marks a new chapter after three years of flawed policies, allowing banks to now conduct crypto-related business after conducting their own risk assessments. A similar adjustment was recently made by the OCC, which also rescinded comparable restrictions.
