Author: Mark

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US Regulators FDIC and CFTC Ease Crypto Restrictions for Banks and Derivatives

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In a significant shift for the financial sector, the Federal Deposit Insurance Corporation (FDIC) and the Commodity Futures Trading Commission (CFTC) have relaxed key restrictions on crypto-related activities for banks and derivatives traders. FDIC Opens the Door for Banks to Engage in Crypto Activities The FDIC announced on March 28 that financial institutions under its oversight, including banks, no longer require prior approval to engage in crypto-related activities. This decision overturns a previous mandate under the Biden administration that required banks to notify the agency before engaging in such ventures. According to the FDIC’s updated guidelines, crypto-related activities encompass a…

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