Fed Drops Crypto Restrictions, Opens Door for Banks
Update: 2025-12-18
Description
The US Federal Reserve has removed a 2023 guidance that restricted banks, including uninsured ones, from engaging with cryptocurrencies. This shift signals a more open approach to digital assets, potentially allowing more financial institutions to explore this space. The previous guidance had prevented many uninsured banks from offering crypto services due to strict rules. The Fed cited the guidance as outdated, acknowledging the evolution of the financial system and understanding of cryptocurrencies. However, Fed Governor Michael Barr dissented, expressing concern about regulatory arbitrage and financial stability.
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