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ARTICLE · 30 APRIL 2025

Federal Reserve Withdraws Crypto-Related Guidance Including Notification Requirements For Banking Organizations

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The Federal Reserve Board ("Board") softened its stance on regulation of crypto activity by banking organizations by rescinding supervisory letters that created hurdles for crypto-asset activities...

United StatesTechnology
Nathan Brownback
Nathan Brownback
Abradat Kamalpour
Abradat Kamalpour
Mary Alexander Myers
Mary Alexander Myers
Laura S. Pruitt
Laura S. Pruitt
Mark W. Rasmussen
Mark W. Rasmussen
Collin Waring
Collin Waring
Christopher (Chris) Mitchell
Christopher (Chris) Mitchell
Ernest (Ernie) Oleksy
Ernest (Ernie) Oleksy
Michael Rust
Michael Rust
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The Federal Reserve Board ("Board") softened its stance on regulation of crypto activity by banking organizations by rescinding supervisory letters that created hurdles for crypto-asset activities and by joining the Office of the Comptroller of the Currency ("OCC") and the Federal Deposit Insurance Corporation ("FDIC") in withdrawing from two 2023 interagency statements warning against bank crypto activities.

On April 24, 2025, the Board followed recent supervisory actions by the OCC and the FDIC that ease restrictions on bank involvement in crypto-related activities.

The Board withdrew from two key pieces of crypto-asset guidance: (i) its 2022 supervisory letter that required state member banks to give the Board advance notice of any crypto-asset activity; and (ii) its 2023 supervisory letter that required all banking organizations supervised by the Board ("banking organizations"), including state member banks and bank holding companies, to obtain a formal

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