The FDIC announced that banks can now engage in legitimate cryptocurrency activities without prior regulatory approval, reflecting previous policy, according to Reuters last Friday. This move followed a similar decision by the Office of the Comptroller of the Currency. “The FDIC is turning the page on the flawed approach of the past three years,” explained acting FDIC Chairman Travis Hill in a Reuters report. Industry leaders welcomed these changes, anticipating an increase in institutional offerings in cryptocurrencies, ranging from custody solutions to blockchain-based transactions, which could lend further legitimacy to the asset class.