US FDIC revokes policy that requires banks to obtain licenses before providing crypto services

PANews March 29th news, according to Decrypt, the Federal Deposit Insurance Corporation (FDIC) announced that banks can engage in cryptocurrencies and other legally permitted activities without seeking regulatory approval in advance, as long as they can properly manage risks. The policy change revokes a 2022 requirement that FDIC regulators notify the agency before engaging in crypto-related activities. Under the new guidelines, banks can provide services involving digital assets without the agency’s prior permission.