On March 28, the FDIC announced new guidance allowing FDIC-supervised institutions to engage in permissible crypto-related activities without prior approval. This update, outlined in FIL-7-2025, rescinded the previous requirement from FIL-16-2022 (covered by InfoBytes here), which mandated institutions to notify the FDIC before engaging or intending to engage in cryptoasset-related activities.
The FDIC clarified that permissible crypto-related activities should still manage market and liquidity risk, operational and cybersecurity risks, consumer protection requirements, and anti-money laundering requirements. The FDIC stated its intent to collaborate with the President’s Working Group on Digital Asset Markets and other banking agencies and intended to provide further guidance and replace previous interagency documents related to cryptoassets.
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