🔥 The Fed retracts old guidelines, paving the way for U.S. banks to engage with crypto more flexibly

The Fed announced:

- Eliminates the requirement for banks to notify before participating in activities related to digital assets (according to the supervisory letter of 2022)

- Removes the approval process when banks engage in activities with stablecoins (according to the supervisory letter of 2023)

– Withdraws from 2 joint statements in 2023 between federal regulatory agencies regarding the oversight of crypto in the banking system

From now on, the Fed will monitor banks' crypto-related activities through the normal supervisory process, instead of applying separate requirements as before.