The FDIC is set to revise its crypto guidelines, potentially allowing banks to engage in digital asset activities. This shift aligns with the pro-crypto stance of the Trump administration, paving the way for tokenized deposits and broader banking participation in crypto.

FDIC to Allow Banks to Engage in Crypto

In a major policy shift, the U.S. Federal Deposit Insurance Corporation (FDIC) is reportedly revising its crypto guidelines, removing regulatory hurdles that have long kept banks from engaging in digital asset activities.

According to a report by Barrons, the FDIC aims to eliminate the need for prior approval before banks can offer crypto-related services, including tokenized deposits that could bring checking accounts onto blockchains.

Acting Chairman Travis Hill acknowledged that banks seeking to enter the crypto space have faced delays and regulatory resistance under past policies.

This move follows a court-ordered release of internal FDIC documents prompted by a lawsuit from Coinbase, which sought transparency on regulatory decisions regarding crypto.

If implemented, this policy shift could rapidly accelerate bank adoption of crypto. Bank of America CEO Brian Moynihan recently confirmed that banks are ready to engage once regulations permit.

Meanwhile, Standard Chartered predicts bitcoin could reach $500,000 by 2028, with increased banking participation boosting accessibility and stability in the crypto market.

With the FDIC poised to ease restrictions, the traditional banking sector and digital assets may soon become more interconnected than ever.