U.S. banks are getting a warning about crypto from the Fed, OCC, and FDIC. They are withdrawing previous guidelines that required banks to seek approval before engaging in crypto activities. Not sure why this matters, but the Federal Reserve, along with other U.S. bank regulators, has decided to delete their crypto guidance from past years. This happened on April 24, 2025, at 10:38 p.m. No more sign-offs needed from regulators for crypto activities.
Now, managers and compliance executives at banks will handle crypto matters without official guidance. The banking industry is waiting for Congress to create new laws on how digital assets should operate in the U.S. The Fed stated that these actions align expectations with evolving risks and support innovation in the banking system.
The Federal Reserve is known for its monetary policy work, but it also supervises state member banks. By removing four pieces of crypto guidance signed onto in 2022 and 2023, the Fed is highlighting the risks posed by the crypto sector. Instead of prior approvals, Fed officials will monitor banks’ crypto activities through normal supervision.
Jesse Hamilton, CoinDesk’s deputy managing editor on the Global Policy and Regulation team, shares insights on the topic. He has covered Wall Street regulation for more than a decade, including the federal agencies’ discussions on crypto. Hamilton has received national honors for his reporting on various topics. He holds a journalism and history degree from Western Washington University and has no crypto holdings.
