Here’s what’s been happening at the intersection of banking and Bitcoin:
🏦 FDIC Removes Prior Approval Requirement for Banks Engaging in Bitcoin Activities
The Federal Deposit Insurance Corporation (FDIC) has rescinded its previous guidance that required FDIC-supervised institutions to obtain prior approval before engaging in crypto-related activities. This change allows banks to participate in legally permitted Bitcoin activities, provided they manage associated risks appropriately. The move aligns with similar actions by the Office of the Comptroller of the Currency (OCC) and is expected to facilitate greater integration of Bitcoin into traditional banking services.
💳 Kraken Partners with Mastercard to Enable Bitcoin Payments at Over 150 Million Merchants
Kraken has announced a partnership with Mastercard to allow its users in the UK and Europe to spend Bitcoin at over 150 million merchants worldwide that accept Mastercard. This collaboration aims to bridge the gap between digital assets and everyday commerce, marking a significant step toward mainstream adoption of Bitcoin for daily transactions.
⚖️ DOJ Disbands Cryptocurrency Enforcement Unit
The U.S. Department of Justice (DOJ) is disbanding its National Cryptocurrency Enforcement Team (NCET), shifting its focus from regulatory enforcement to prosecuting individuals who use digital assets for serious crimes such as terrorism and organized crime. This policy change reflects a broader move by the Trump administration to reduce regulatory burdens on the digital asset industry and promote innovation.
🤝 Cantor Fitzgerald Partners with Anchorage Digital and Copper.co
On March 11, 2025, Cantor Fitzgerald announced partnerships with digital asset custodians Anchorage Digital and Copper.co to support its new global Bitcoin financing business. The initiative aims to provide leverage and institutional infrastructure for investors holding Bitcoin, signaling a growing appetite for financial products built around Bitcoin exposure. These developments indicate a significant shift in the regulatory and institutional landscape, potentially paving the way for deeper adoption and integration of Bitcoin into global financial systems.
🏛️ Bessent Urges U.S. Treasury to Take Lead in Easing Bank Regulations
United States Secretary of the Treasury Scott Bessent has called for the U.S. Treasury to play a stronger role in banking oversight, arguing that current regulations are overly burdensome for regional and midsize banks. Speaking at a Brookings Institution event, Bessent warned that excessive regulatory complexity risks stifling credit availability and economic growth, and suggested the Treasury should streamline oversight to better support financial stability.
📋 Regulators Move to Rescind 2023 Community Reinvestment Act Rule Amid Legal Challenges
The Federal Reserve, FDIC, and OCC have announced plans to rescind the 2023 final rule updating the Community Reinvestment Act (CRA), citing ongoing litigation. The agencies intend to reinstate the previous CRA framework while working together to ensure a consistent regulatory approach to community investment and fair lending practices.
🔍 Wrap-up
Regulatory bodies are coming out in numbers to provide a more favorable environment for financial institutions seeking to engage in bitcoin and crypto related activities. Innovative companies are wasting no time taking advantage of capitalizing on this newfound regulatory clarity!
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