The Federal Reserve System (Fed) announced on April 24, 2025, the cancellation of recommendations that limited banks' operations with crypto assets and stablecoins. This was reported in an official statement from the Fed and is actively discussed in posts on platform X as of April 25. Since 2022, banks have been required to obtain prior approval for digital asset transactions, which created barriers for cooperation with crypto companies.
The cancellation of recommendations for the years 2022–2023 means that banks can now operate with cryptocurrencies and stablecoins within the standard supervisory process, without additional permissions. The Fed has also withdrawn its 2023 statements that warned of the risks associated with crypto firms, including potential fraud. Previously, the regulator emphasized the threats to financial stability, consumer protection, and efforts to combat money laundering.
This step by the Fed indicates a change in approach to the crypto industry, which may facilitate its integration into the traditional financial system. Experts believe that this decision reflects the U.S. commitment to supporting innovation while maintaining the stability of the banking system. Will this be the beginning of broader cooperation between banks and the crypto sector? Be the first to find out on #MiningUpdates