Federal Reserve, FDIC Pull Statements on Crypto

The Federal Reserve Board and the Federal Deposit Insurance Corp. have withdrawn several statements regarding banks' crypto-related activities in an effort to support innovation and clarify current policies. From a report: Two joint statements from 2023 on liquidity and other risks regarding banks' crypto-related activities were pulled on Thursday, the FDIC said. The move aims to clarify that banking organizations may engage in crypto activities so long as they are consistent with current laws and regulations. Banks may also provide products and services to people and firms engaged in crypto-related activities, the FDIC said. Providing more clarity on banks' crypto activities in the coming weeks and months is being considered, the agencies said.

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