Leggi questo articolo in Italiano
A sea change in the USA: the FDIC gives banks the green light for crypto
By Davide Grammatica
The U.S. Federal Deposit Insurance Corporation (FDIC) is overturning the regulatory approach to crypto, giving the green light to banks interested in cryptocurrencies
A decisive change in the USA
A decisive turning point on the regulatory front comes from the United States, with the U.S. Federal Deposit Insurance Corporation (FDIC) that, in the last few hours, has announced the cancellation of old guidelines in favor of a new approach favorable to the crypto sector.
The federal agency, which is responsible for providing deposit insurance to member banks and overseeing their solvency, would thus annul the standards requiring financial institutions to inform the agency before engaging in crypto activities.
“With today’s action, the FDIC is turning the page on the flawed approach of the past three years,” said Travis Hill, acting chairman of the FDIC. ”I expect this to be one of several steps the FDIC will take to define a new approach to how banks can engage in cryptocurrency and blockchain-related activities in compliance with safety and soundness standards.”
In the past, the FDIC had also warned about the risks of cryptocurrencies for the US banking system. In 2022, precisely in relation to these risks, it urged banks to inform the agency about their cryptocurrency-related activities.
After Trump, everything changes for crypto
However, the arrival of Donald Trump seems to have changed everything. In addition to the FDIC, for example, the Office of the Comptroller of the Currency (OCC) has also clarified that crypto activities are perfectly permitted within the federal banking system.
From this point of view, the new US president seems to want to respect the pacts he made with his voters. Just at the beginning of March, Trump had again accused the previous administration of having transformed the government into “a weapon against the crypto sector”, but now things seem to be changing quickly.
According to Bo Hines, executive director of the President’s Council of Advisers for Digital Assets, the whole affair is “a great victory”.
