The Federal Reserve announced it will no longer require member banks to provide advance notice for crypto and stablecoin ventures, treating these activities like any other banking services. This decision follows similar moves by the FDIC and the Office of the Comptroller of the Currency, which clarified that banks can engage with digital assets without explicit regulatory permission. In January 2023, these agencies discouraged banks from associating with crypto due to safety concerns, but this guidance has now been rescinded. The Federal Reserve's shift marks an end to the Biden-era policies perceived as discriminatory against the crypto sector, which many industry leaders claimed prevented them from accessing traditional banking services. Despite concerns among crypto advocates about the Fed’s Democratic majority potentially hindering this shift, the announcement suggests a new regulatory approach. However, the Fed has yet to change its stance on granting master accounts to crypto-focused banks, which are essential for nationwide services. This move aligns with President Trump's goal of dismantling alleged anti-crypto banking discrimination from the previous administration.

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