FED announces the withdrawal of guidance for banks related to their crypto-asset

The Federal Reserve Board announced on April 24, 2025 that it is withdrawing guidance for banks on crypto-asset and dollar token activities, along with related changes to its expectations for those activities. It is rescinding its 2022 supervisory letter that expected state member banks to give advance notification of planned or current crypto-asset activities, and it will instead monitor these activities through the normal supervisory process. The Board is also rescinding its 2023 supervisory letter on the supervisory nonobjection process for state member bank engagement in dollar token activities. Together with the FDIC, it is withdrawing from two 2023 joint statements by federal bank regulatory agencies on banks' crypto-asset activities and exposures, and it will work with the agencies on whether additional guidance is appropriate.