The FDIC in the United States has revoked its policy requiring banks to obtain permission before providing encryption services

According to Decrypt, the Federal Deposit Insurance Corporation (FDIC) in the United States has announced that banks can engage in cryptocurrency and other legally permitted activities without seeking prior regulatory approval, as long as they can manage risks appropriately. This policy change revokes a requirement from 2022 that required FDIC regulatory agencies to notify the agency before engaging in cryptocurrency related activities. According to the new guidelines, banks can provide services involving digital assets without prior permission from the institution.