According to ChainCatcher, David Sacks, the White House's cryptocurrency and AI director, stated regarding "the new FDIC guidelines clarifying the process for bank participation in cryptocurrency activities" that "FDIC is making it easier for banks to engage in crypto-related activities, which is one of the best ways to further promote cryptocurrency mainstreaming."
Previous reports indicate that the US FDIC has revoked the pre-approval requirements for bank crypto activities, allowing banks to engage in cryptocurrency and other legally permitted activities without seeking prior regulatory approval, as long as they can appropriately manage risks.
