The Federal Deposit Insurance Corporation has released 175 crypto-related banking regulatory documents

On February 5th, according to the FDIC's official website, the Federal Deposit Insurance Corporation (FDIC) today released 175 documents related to the supervision of banks participating in or attempting to participate in crypto-related businesses.
Acting chairperson Travis Hill said that the FDIC had previously published 25 "suspension" letters received by 24 banks, and the documents released this time included more letters from these banks, as well as related correspondence records from other banks. The documents show that banks' crypto business requests have generally encountered resistance, including repeated requests from regulators for additional information, long-term failure to respond or direct instructions to suspend all crypto and blockchain activities, resulting in most banks eventually abandoning related attempts.
Hill said the FDIC is re-evaluating how crypto-related businesses are regulated and plans to replace the 2022 regulatory guidance (0021 16-2022) to provide a compliance path for banks to engage in crypto while ensuring security and robustness. The FDIC will also participate in the Presidential Working Group to coordinate discussions on the regulation of digital asset markets under the January 23 Presidential Executive Order.