News & Analysis as of

Cryptocurrency Federal Deposit Insurance Corporation Banks

Patomak Global Partners

Fed Withdrawal of Guidance Marks Milestone for Banks’ Future Crypto Activity

The federal banking agencies have withdrawn previously issued guidance related to banks’ crypto activities, marking a shift in regulatory posture toward digital asset engagement. On April 25, the Federal Reserve Board...more

DLA Piper

Bank Regulatory News and Trends - May 2025

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This regular publication from DLA Piper focuses on helping banking and financial services clients navigate the ever-changing regulatory landscape....more

K&L Gates LLP

Federal Banking Regulators Adopt a Permissive Stance on Cryptocurrency

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The federal banking regulators have each recently adopted a more permissive approach to the regulation of cryptocurrency activities within the banking sector. The Office of the Comptroller of the Currency (OCC), the Federal...more

Orrick, Herrington & Sutcliffe LLP

Regulators withdraw crypto guidance, plan further clarity for banks

On April 24, the FDIC and the Fed announced they have retracted two joint statements concerning banking organizations’ activities related to crypto-assets. According to the agencies, this move aims to clarify that banking...more

Jones Day

Federal Reserve Withdraws Crypto-Related Guidance Including Notification Requirements for Banking Organizations

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The Federal Reserve Board ("Board") softened its stance on regulation of crypto activity by banking organizations by rescinding supervisory letters that created hurdles for crypto-asset activities and by joining the Office of...more

King & Spalding

OCC Clarifies Crypto-Asset Guidance

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The Office of the Comptroller of the Currency (“OCC”) and the Federal Deposit Insurance Corporation (“FDIC”) have both recently taken actions and issued statements that indicate a more permissive bank regulatory approach to...more

Mayer Brown

FDIC Streamlines Process for Cryptocurrency Activities by Banks It Regulates and Speculates on Additional Permissible Activities

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On March 28, 2025, the Federal Deposit Insurance Corporation (FDIC) issued guidance on state nonmember bank and state savings association participation in certain cryptocurrency activities (“FIL-7-2025”). ...more

Sheppard Mullin Richter & Hampton LLP

FDIC Updates Crypto Guidance, Removes Pre-Approval Requirement for Banks

On March 28, the FDIC issued updated guidance clarifying the process for FDIC-supervised institutions to engage in crypto-related activities. The guidance rescinds and replaces prior instructions issued in 2022 and makes...more

Jones Day

FDIC Rescinds Prior Notification Requirement for Banks' Permissible Crypto Activities

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The FDIC has rescinded an earlier Financial Institution Letter establishing a prior notification requirement for FDIC-supervised institutions that wish to engage in specified crypto-related activities and has clarified that...more

Cooley LLP

FDIC: Banks Can Engage in Crypto-Related Activities Without Prior Notice

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On March 28, 2025, the Federal Deposit Insurance Corporation (FDIC) clarified that FDIC-supervised institutions do not need to provide notice or obtain approval from the FDIC prior to engaging in crypto-related activities....more

Katten Muchin Rosenman LLP

Banking Agencies Begin Publishing Updated Crypto Guidance

On March 28, the Federal Deposit Insurance Corporation (FDIC) rescinded Biden administration guidance related to state-chartered banks' participation in "crypto-related activities" and published a new interpretation of the...more

Troutman Pepper Locke

FDIC Turns a New Page on Banks’ Engagement in Crypto-Related Activities

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Last Friday, the Federal Deposit Insurance Corporation (FDIC) announced the rescission of Financial Institution Letter (FIL-16-2022) and issued new guidance clarifying the process for FDIC-supervised institutions to engage in...more

Nutter McClennen & Fish LLP

Nutter Bank Report: March 2025

The federal banking agencies have announced their intent to issue a proposal to rescind the Community Reinvestment Act (CRA) final rule originally issued in October 2023. In their announcement on March 28, the agencies also...more

Sheppard Mullin Richter & Hampton LLP

FDIC Aims to Eliminate Reputational Risk from Supervision

On March 24, acting FDIC Chairman Travis Hill informed Congress that the agency is preparing to eliminate the use of “reputation risk” as a basis for supervisory criticism. In a letter to Rep. Dan Meuser (R-Pa.), Hill...more

Jones Day

OCC Eases Some Restrictions on Bank Digital Asset Activities

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In recent years, U.S. federal bank regulators significantly limited banks' authority to engage in crypto-asset activities, including participating in public blockchains, owning digital assets as principal, and even providing...more

Latham & Watkins LLP

FDIC Acting Chairman Charts a Fresh Path Forward for the Agency

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The FDIC seeks to stick to its statutory mandate while reducing impediments to fintech, innovation, mergers, bank formation, and efficient supervision....more

Orrick, Herrington & Sutcliffe LLP

Lawsuit reveals crypto “Pause Letters” issued by FDIC

On December 6, in a joint status report filed in the U.S. District Court for the District of Columbia, the FDIC made public 23 “Pause Letters” that the FDIC issued to regulated, unnamed institutions to pause...more

Davis Wright Tremaine LLP

National Trust Banks – Revisited for Crypto and Payments

In the absence of modern charters and licenses, payments companies and other fintechs—both established financial services providers and new market entrants—must generally obtain 50+ money transmitter and possibly other state...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - August 2024 # 4

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week... ...more

Troutman Pepper Locke

Will Resiliency Carry the Digital Asset Sector Through 2024?

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In 2023, the digital asset industry demonstrated remarkable resilience amidst significant challenges, including the dissolution of several digital asset financial services companies, numerous bank failures, and a $4.7 billion...more

Orrick, Herrington & Sutcliffe LLP

Fed finds CEO engaged in crypto “pig butchering” scam which led to bank failure

On February 7, the Federal Reserve issued an evaluation report, as required by the Federal Deposit Insurance Act (where a loss to the deposit insurance fund is considered material), on a recently failed bank; the Fed...more

Husch Blackwell LLP

FDIC Amends Signage, Advertising, and FDIC Insurance Misrepresentation Rules to Address Digital Banking Services and Bank-Fintech...

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In December 2023, the Federal Deposit Insurance Corporation (FDIC) finalized amendments to its rules on official FDIC signage, bank advertisements, deposit insurance misrepresentations, and the misuse of the FDIC’s name or...more

Venable LLP

FTC Settles with Bankrupt Crypto Company, but Pursues CEO for Deceptive FDIC Claims

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The Federal Trade Commission (FTC) announced it has reached a settlement with the bankrupt crypto company Voyager over the company’s alleged deceptive crypto marketing practices. Specifically, the FTC’s complaint alleges that...more

Wilson Sonsini Goodrich & Rosati

Focus on Fintech – Q2 2023

In this most recent issue, we discuss a number of federal banking agency updates, including the long-awaited Final Interagency Guidance on Third-Party Relationships and the Federal Reserve Bank of New York’s report on the...more

Cadwalader, Wickersham & Taft LLP

FDIC's Annual Risk Review Includes Crypto Risks for First Time

The Federal Deposit Insurance Corporation (“FDIC”) published its annual Risk Review this past Monday, providing an overview of banking conditions for 2022 through early 2023. The FDIC started providing Risk Reviews to the...more

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