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FDIC Streamlines Path for Banks to Take On Some Crypto Business - BLOOMBERG
Banks supervised by the US Federal Deposit Insurance Corp. no longer need prior approval to engage in crypto-related activities, undoing a Biden-era policy that sought to minimize risks to banks and consumers.
“FDIC-supervised institutions may engage in permissible activities, including activities involving new and emerging technologies such as cryptoassets and digital assets, provided that they adequately manage the associated risks,” the agency said in a statement.
