The Federal Deposit Insurance Corporation (FDIC) issued an update to its policies regarding bitcoin and cryptocurrencies.
The Federal Deposit Insurance Corporation (FDIC) issued new guidance allowing banks under its supervision to engage in activities related to bitcoin (BTC) and other cryptocurrencies without prior approval.
According to the official statement, banks can conduct permitted activities as long as they assess the associated risks, such as market, liquidity, cybersecurity, and money laundering risks.
Additionally, they must coordinate with their supervisory teams to ensure compliance with existing regulations. With this decision, the FIL-16-2022 rule, established in 2022, which required entities to obtain explicit permission before venturing into this area, is left behind. The FDIC, responsible for supervising thousands of banks—mostly small ones—and ensuring the stability of the U.S. financial system, seems, with this guidance, to want to adapt to the new regulatory reality in the U.S. The agency protects deposits and fosters public confidence, a role that now extends to a sector that, until recently, faced significant barriers from regulators.
The push from the Trump administration
The policy change comes after a series of favorable actions towards bitcoin and cryptocurrencies by the government of Donald Trump. Since taking office, the president has shown clear support for the sector, promising to make the United States 'the cryptocurrency capital of the world,' as reported by CriptoNoticias. This shift aligns with the establishment of the working group on digital assets, created through an executive order signed on January 23, 2025. Among the group's priorities are the creation of a national bitcoin reserve and the development of a regulatory framework that promotes innovation while ensuring user protection. For his part, Bo Hines, director of the White House's digital assets advisory council, celebrated the FDIC's decision. 'It's a huge victory,' he stated, adding that it represents 'a significant step forward towards innovation and adoption' of cryptocurrencies in the country. Beyond the FDIC: a domino effect The impact of this change is not limited to the FDIC. The Commodity Futures Trading Commission (CFTC) also withdrew an advisory letter that differentiated digital asset derivatives from other similar products. This review, effective immediately, ensures that derivatives linked to cryptocurrencies receive the same treatment as the rest, removing another barrier for companies in the sector. This joint movement among regulators suggests a more friendly environment for cryptocurrencies under the Trump administration. However, it contrasts with the recent past. In February 2025, the release of 175 documents revealed the obstacles banks faced during Joe Biden's administration to offer services with bitcoin. That resistance, known as 'Operation Chokepoint 2.0,' was denounced by members of the cryptocurrency industry as a deliberate effort to limit customer access to these assets. U.S. regulators within the working group continue to work to issue more guidance in the future. Among the pending topics are operations with stablecoins and the structure of the cryptocurrency market, areas that the government considers key to balancing innovation and security.