The three major banking regulatory agencies of the U.S. government: FED (Federal Reserve), FDIC (Federal Deposit Insurance Corporation), OCC (Office of the Comptroller of the Currency) have fully lifted restrictions on banks engaging in virtual currency transactions.

FED (Federal Reserve):

On April 25, 2025, announced that state banks do not need to provide prior notice of existing or planned cryptocurrency activities, but rather monitor banks' cryptocurrency activities through normal regulatory procedures. The FED also announced the withdrawal of the following supervisory letters:

• Joint Statement on Crypto-Asset Risks to Banking Organizations

• Joint Statement on Liquidity Risks to Banking Organizations Resulting from Crypto-Asset Market Vulnerabilities

• SR 22-6 / CA 22-6: Engagement in Crypto-Asset-Related Activities by Federal Reserve-Supervised Banking Organizations

• SR 23-8 / CA 23-5: Supervisory Nonobjection Process for State Member Banks Seeking to Engage in Certain Activities Involving Dollar Tokens

FDIC (Federal Deposit Insurance Corporation):

On March 28, 2025, confirmed that banks regulated by the FDIC can engage in permissible activities, including activities involving emerging technologies such as cryptocurrency and digital assets, without prior FDIC approval, provided they can adequately manage associated risks including but not limited to market and liquidity risks, operational and cybersecurity risks, consumer protection requirements, and anti-money laundering requirements. The FDIC expects regulated institutions to conduct all activities in a safe and sound manner, comply with all applicable laws and regulations, and communicate with their regulatory teams as appropriate. The FDIC also announced the withdrawal of the following supervisory letters:

• Joint Statement on Crypto-Asset Risks to Banking Organizations

• Joint Statement on Liquidity Risks to Banking Organizations Resulting from Crypto-Asset Market Vulnerabilities

• FIL-16-2022

OCC (Office of the Comptroller of the Currency):

On March 7, 2025, announced that it will no longer require banks to provide notice, but will monitor banks' cryptocurrency activities through normal regulatory processes. These measures are intended to reduce burdens, encourage responsible innovation, and enhance transparency. The OCC will review activities including cryptocurrency custody services, deposits held as reserves for stablecoins, and the use of stablecoins and distributed ledger technology to facilitate payments as part of its ongoing regulatory process.