In a significant development, the US Federal Deposit Insurance Corporation (FDIC) is reportedly planning to revise its guidelines, allowing banks to engage in crypto activities.
FDIC to Revise Crypto Guidelines Marking Huge Shift
This development is part of the broader shift in the U.S. under the pro-crypto Trump administration, which aims to overhaul policies toward digital assets. Now, the FDIC may be ready to change how banks engage with the crypto sector.
With Donald Trump back in office, the U.S. government’s approach to cryptocurrency has changed. The Securities and Exchange Commission (SEC) is working to redefine the future of digital assets in the country.
The FDIC is reportedly planning to revise its guidelines to allow banks to engage in crypto activities. According to a Barron’s report, the agency aims to enable institutions to operate within the sector without needing prior regulatory approval.
If the rules are updated, banks would quickly jump into the crypto space. Just two weeks ago, Bank of America CEO Brian Moynihan confirmed this saying that once the legal framework allows it, banks will actively participate in crypto transactions.
Moynihan even referred to it as “just another form of payment.” While current bans don’t completely exclude banks from the crypto sector, regulatory changes would simplify their access. With Standard Chartered forecasting Bitcoin to hit $500,000 by 2028, these adjustments could accelerate its growth. Easier access and reduced volatility could significantly boost its value worldwide.
