Overview

• The Federal Reserve has withdrawn supervisory letters requiring banks to seek advance approval for crypto-asset and stablecoin activities.
• The FDIC and OCC joined the Federal Reserve in rescinding 2023 cautionary statements urging vigilance around crypto-related risks.
• Previous guidance highlighted concerns over volatility, legal uncertainties, and liquidity risks in bank-led crypto services.
• This coordinated rollback reflects a Trump administration-driven pivot toward a more crypto-friendly regulatory environment.
• Regulators are now evaluating the development of new guidance to support innovation in crypto-asset and stablecoin activities.