FDIC Removes Barriers for Banks to Engage in Crypto Services

The Federal Deposit Insurance Corporation (FDIC) revised guidelines for the banks regarding participation in cryptocurrency activities with no need for prior approval, which signals a new trend for policies related to digital assets. The guidelines include permission for the financial firms to participate in activities related to digital currency without any prior approval. FDIC Removes Old Notification RuleThe FDIC has canceled its previous policy from April 7, 2022, known as "Notification of Engaging in Crypto-Related Activities" (FIL-16-2022). That rule required FDIC-supervised banks to notify the agency before starting any crypto services source: https://www.coingabbar.com/en/crypto-currency-news/fdic-removes-barriers-for-banks-to-engage-in-crypto