- The FDIC now allows banks to engage in legal crypto activities without prior approval.
- Banks must still manage risk properly, even with the new flexibility.
- The move follows similar crypto-friendly steps by the Office of the Comptroller of the Currency.
Well, that’s a shift. The FDIC just announced that banks no longer need to ask for permission before diving into certain crypto-related activities—as long as those activities are legal and the banks know how to manage the risks.
Yep, that’s a big deal.
Up until now, banks had to run their crypto plans past regulators first. But on Friday, the Federal Deposit Insurance Corporation said: not anymore. The policy change pretty much scraps the old playbook.
“The FDIC is turning the page on the flawed approach of the past three years,” said Acting Chairman Travis Hill. He also hinted that more updates are coming, aimed at clearing up how banks can engage with crypto products and services going forward.
So What Changed Exactly?
In short: banks can now engage in legal crypto activity—whether that’s custody, payments, or whatever else—without waiting for a green light from the FDIC first. As long as they’re being responsible and managing risk? They’re good to go.
That doesn’t mean it’s a total free-for-all, but it’s definitely a more relaxed approach than what we’ve seen over the past few years.

FDIC Follows OCC’s Lead
This move comes not long after the Office of the Comptroller of the Currency (OCC) also updated its stance, making it easier for banks to get into the crypto space. Seems like regulators are slowly starting to open the door—just a crack—for more traditional institutions to explore digital assets.