FDIC Reverses U.S. Crypto Banking Policy That Demanded Prior Approvals The U.S. banking agency withdrew policies that contributed to crypto industry accusations that it pressured institutions to "debank" digital assets customers. What to know: • The Federal Deposit Insurance Corp. has issued a new crypto policy that scraps previous guidance calling for banks to get the regulator's sign-off before engaging in any new crypto activity. • The new stance comes closely on the heels of a similar move from a fellow U.S. banking agency, the Office of the Comptroller of the Currency. • Regulators tapped by President Donald Trump have been rapidly reversing years of crypto hesitancy in the U.S. government. The Federal Deposit Insurance Corp. will no longer instruct banks to get prior sign-off before they engage in crypto activities — a standard that was set in 2022 and that effectively severed institutions from the digital assets sector as they waited for approvals that nev...
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