The FDIC has updated its guidance to allow supervised banks to engage in crypto activities without prior approval, following similar moves by the OCC.
The Federal Deposit Insurance Corporation (FDIC) issued new guidance on March 28, 2025, permitting FDIC-supervised banks to participate in cryptocurrency-related activities without prior approval, provided they implement proper risk management protocols. This change aligns with recent updates from the Office of the Comptroller of the Currency (OCC) and marks a significant shift in U.S. banking regulations for digital assets.
Regulatory shift for crypto banking
The FDIC’s new guidance represents a departure from previous policies that required banks to notify regulators before engaging in cryptocurrency activities. Acting Chairman Travis Hill stated in the announcement that this move is part of broader efforts to modernize banking regulations for blockchain and digital assets.
According to the FDIC’s press release, the updated guidance specifically addresses activities like crypto custody services and participation in blockchain networks. Banks must still demonstrate they have adequate systems to manage risks associated with these activities.
Coordinated approach with OCC
The FDIC’s action follows similar updates from the OCC on March 15, 2025, which clarified that national banks could custody crypto assets and participate in blockchain networks. Industry analysts see this as evidence of coordinated regulatory modernization across federal banking agencies.
“This alignment between the FDIC and OCC reduces regulatory uncertainty for banks interested in crypto services,” noted financial regulation expert Sarah Chen of Georgetown University. “It suggests federal regulators are working together to create a more coherent framework.”
Industry response and next steps
Major banks have already begun expanding their crypto offerings. JPMorgan recently launched euro-denominated transactions using its JPM Coin, while BNY Mellon announced new crypto collateral management services. FDIC data shows growing bank interest in crypto services, with 23% of supervised banks exploring such offerings in 2024.
The FDIC plans to issue additional clarifications by the second quarter of 2025, focusing on consumer protection and systemic risk mitigation in crypto banking. These updates are expected to complement forthcoming guidelines from the Federal Reserve, creating a more comprehensive regulatory environment for digital assets in traditional banking.
