The FDIC revokes the requirement for banks to pre-screen cryptocurrency activities

ChainCatcher news, according to Decrypt, the Federal Deposit Insurance Corporation (FDIC) announced that banks can engage in cryptocurrency and other legally permitted activities without seeking prior approval from regulators, as long as they can manage risks appropriately.

This policy change reverses a requirement from 2022: which mandated FDIC-regulated institutions to notify the agency before engaging in crypto-related activities. Under the new guidelines, banks can offer services involving digital assets without prior permission from the agency.