According to Cointelegraph, the U.S. Federal Reserve has announced a significant change in its approach to supervising banks involved in cryptocurrency and stablecoin activities. In a statement issued on April 24, the Board of Governors of the Federal Reserve revealed that it is rescinding its 2022 supervisory letter. This letter had previously set an expectation for state member banks to provide advance notice of any planned or ongoing activity related to crypto assets. This move marks a shift in the regulatory landscape for banks participating in the rapidly evolving crypto sector.