The Federal Reserve’s announcement on April 24, 2025, to withdraw prior guidance and supervisory letters concerning banks’ involvement in cryptocurrency and stablecoin activities is the latest turn by US regulators under President Trump to ease cryptocurrency regulation in the United States. See our earlier posts here, here, here and here. On the campaign trail, President Trump vowed to make the U.S. the “crypto capital of the planet.” The Fed’s announcement said the Fed would work…
On April 7, 2022, the US Federal Deposit Insurance Corporation (FDIC) issued a Financial Institution Letter (“FIL”) requiring that all FDIC-supervised institutions that intend to engage in, or that are engaged in, any activities involving or related to crypto assets notify the FDIC. Because the overwhelming majority of U.S. banks are insured by the FDIC, the FIL means that nearly all banks must now disclose their crypto activities to the FDIC. The definition of crypto…