The Federal Reserve withdrew its 2023 guidance and eased restrictions on uninsured banks' participation in crypto business.

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According to crypto journalist Eleanor Terrett, the Federal Reserve has decided to rescind a regulatory guidance it issued in 2023 that effectively restricted banks that did not have deposits from joining the Federal Reserve System and conducting crypto-related business; the guidance was one of the reasons the Federal Reserve rejected Custodia Bank's application for a master account.

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