FDIC Opens Door for Banks to Enter Digital Asset Market
FDIC Opens Door for Banks to Enter Digital Asset Market
The Federal Deposit Insurance Corporation (FDIC), the entity that insures deposits in banks and savings institutions, recently announced it would be revising its guidelines to allow banks to engage in digital asset-related activities. This decision opens the door for financial institutions to freely explore digital assets and blockchain technologies. Thus, banks could begin offering brokerage services and custody solutions for digital assets and stablecoins. This move indicates a broader commitment toward enabling banks to innovate within the crypto space.
This approach from the FDIC, coupled with national blockchain initiatives, signals increased acceptance of crypto in traditional banking. Financial institutions now have clearer paths to innovation, making cryptocurrency and blockchain services accessible to mainstream consumers.
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Dolgora Dorzhieva is an associate in the New York office of Faruqi & Faruqi, LLP and focuses her practice on securities litigation.
