FDIC Set to Revise Guidelines, Allowing Banks to Engage in Crypto Activities
In a major development, the Federal Deposit Insurance Corporation (FDIC) reportedly plans to amend its guidelines to enable banks to engage in crypto activities.
FDIC Modify Encryption Guide Marks a Huge Transformation
This development is part of a broader shift in the U.S. under the leadership of the Trump administration, which aims to overhaul digital assets. Now, the FDIC may be ready to change the way banks interact with the cryptocurrency space.
With Donald Trump taking office, the U.S. government’s cryptocurrency approach has changed. The Securities and Exchange Commission (SEC) is working to redefine the future of digital assets in the country.
The FDIC reportedly plans to amend its guidelines to allow banks to engage in crypto activities. According to Barron’s report, the agency is designed to enable agencies to operate within the industry without prior regulation.
If the rules are updated, banks will jump into the cryptocurrency space soon. Just two weeks ago, Bank of America CEO Brian Moynihan confirmed the claim that banks will actively participate in crypto trading once the legal framework allows.
Moynihan even called it “another payment method.” While the current ban does not completely exclude banks from cryptocurrencies, regulatory changes will simplify their access. By 2028, these adjustments may accelerate its growth as Standard Charter predicts Bitcoin will reach $500,000. More accessible and reduced volatility can significantly increase its value globally.
