The Federal Deposit Insurance Corporation (FDIC) has released a new Financial Institution Letter (FIL-7-2025) to update the guidance for FDIC-supervised institutions regarding crypto-related activities. The updated guidance revokes FIL-16-2022 and allows these institutions to engage in permissible crypto-related activities without needing prior approval from the FDIC.
The guidance highlights that FDIC-supervised institutions can participate in permissible activities, which include those involving emerging technologies like crypto-assets and digital assets, as long as they adequately manage the related risks.
“With today’s action, the FDIC is turning the page on the flawed approach of the past three years,” stated FDIC Acting Chairman Travis Hill. “I expect this to be one of several steps the FDIC will take to lay out a new approach for how banks can engage in crypto- and blockchain-related activities in accordance with safety and soundness standards.”
The FDIC plans to continue its engagement with the President’s Working Group on Digital Asset Markets and anticipates providing further guidance to offer more clarity on banks’ involvement in specific crypto-related activities. Additionally, the FDIC intends to collaborate with other banking agencies to replace existing interagency documents concerning crypto-assets with updated guidance or regulations.
