The Federal Deposit Insurance Corporation (FDIC) has allowed regulated financial institutions to engage in “cryptocurrency-related activities” without needing prior approval from the agency.

The default list of permitted activities includes services such as custodial services, maintaining stablecoin reserves, issuing cryptocurrencies and other digital assets, market-making, participation in blockchain-based payment systems, and lending.

Previously, entities wishing to engage in these activities were required to notify the agency of their intentions and provide information necessary for assessing the risks associated with cryptocurrency use.

The change in FDIC’s approach comes in the wake of U.S. President Donald Trump’s statements about the end of debanking for the U.S. crypto industry.

In 2023, FDIC experts noted the growing interest among clients in such activities, but also pointed to concerns about fraud, legal uncertainties, imperfect risk management methods, and the vulnerability of platforms.

It is worth noting that in March, Reuters reported an increase in interest from fintech and crypto firms in obtaining banking licenses.