The FDIC is re-evaluating the regulation of cryptocurrency activities, and the original regulatory warnings have been removed

2025-02-06 08:08:27

Collection

ChainCatcher news, according to crypto KOL MartyParty, the Federal Deposit Insurance Corporation (FDIC) announced today that it is actively reassessing its regulatory approach to cryptocurrency-related activities. This includes replacing Financial Institution Letter (FIL) 16-2022 and providing a pathway for institutions to engage in cryptocurrency and blockchain-related activities while adhering to safety and soundness principles.

This information was emphasized in a statement by Acting Chairman Travis Hill, indicating a shift in the FDIC's regulation of banks involved in cryptocurrency activities. This means that banks can custody customers' cryptocurrencies, and they will be insured by the FDIC. The Biden administration's Choke Point FIL 16-2022 letter has been withdrawn and replaced.

MartyParty noted that the original FIL-16-2022 letter link has been removed and shows a 404 error. The FDIC is removing all evidence related to its politically motivated opposition to cryptocurrency policies.

(Source Link)

Related tags

FDIC regulation cryptocurrency bank

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.