The Fed has lifted restrictions on crypto: Previous notices canceled.

The Fed announced that it has withdrawn official documents published in the past recommending banks to be cautious in their activities related to cryptocurrencies.

In the official statement made, it was emphasized that the step taken aims to support innovation in the banking system by the Fed. The American central bank had requested banks to notify before engaging in activities related to cryptocurrencies in 2022. According to the new policy, the Fed will no longer expect notifications from banks in this regard, but will instead monitor cryptocurrency activities within the normal audit processes.

The Fed also announced that it has repealed the guidance published in 2023 regarding banks' participation in stablecoin activities.

Finally, the bank decided to withdraw two statements published jointly by federal bank regulators in 2023, along with the Federal Deposit Insurance Corporation (FDIC), calling on banks to be cautious about crypto-related risks.

Regulators had previously reminded banks that they needed to be particularly cautious about market fluctuations, legal uncertainties, and liquidity risks when evaluating the decision to offer crypto services or accept crypto companies as customers.

The cancellation of these notices is seen as a reflection of the Trump administration's positive policies towards cryptocurrency.

In March, OCC became the first U.S. regulator to facilitate banks' participation in crypto activities, taking a similar step by rescinding the guidance issued during the previous administration that urged banks to be cautious in this area.

On the other hand, Fed Chairman Jerome Powell had also given positive messages regarding cryptocurrencies recently. In his latest speech a few days ago, Powell stated, "The climate is changing regarding crypto, it has started to go mainstream." In February, he had mentioned that many crypto activities could be carried out quite well by banks as well.

Published: April 25, 2025 09:43