The Federal Deposit Insurance Corporation and the Board of Governors of the Federal Reserve System have withdrawn two joint statements on banking organizations’ crypto-asset-related activities, framing the move as clarification that banks may engage in permissible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 The withdrawn statements, issued on 3 January 2023 and 23 February 2023, addressed crypto-asset risks and liquidity risks to banking organizations linked to vulnerabilities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 Corporation 2025-04-24
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The Federal Deposit Insurance Corporation and the Federal Reserve Board have withdrawn two joint statements on banks' crypto-asset activities, clarifying that banks may engage in permissible crypto activities consistent with safety and soundness. The withdrawn statements, from January and February 2023, addressed crypto-asset and liquidity risks.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.