The Federal Deposit Insurance Corporation and the Board of Governors of the Federal Reserve System have withdrawn two joint statements on banking organizations’ crypto-asset-related activities, framing the move as clarification that banks may engage in permissible crypto-asset activities and provide products and services to crypto-asset market participants, consistent with safety and soundness and applicable laws and regulations. The withdrawn statements, issued on 3 January 2023 and 23 February 2023, addressed crypto-asset risks and liquidity risks to banking organizations linked to vulnerabilities in crypto-asset markets. Further clarification on banking organizations’ crypto-asset and related activities is being explored by the agencies together with the Office of the Comptroller of the Currency in the coming weeks and months.
Federal Deposit Insurance Corporation2025-04-24
Federal Deposit Insurance Corporation and Board of Governors of the Federal Reserve System withdraw 2023 joint statements on banks’ crypto-asset activities
The Federal Deposit Insurance Corporation and the Federal Reserve Board have withdrawn two joint statements on banks' crypto-asset activities, clarifying that banks may engage in permissible crypto activities consistent with safety and soundness. The withdrawn statements, from January and February 2023, addressed crypto-asset and liquidity risks. Further clarification is being explored with the Office of the Comptroller of the Currency.