The Federal Deposit Insurance Corporation (FDIC) has publicly released 175 encrypted-related bank regulatory documents.

BlockBeats News, February 5th, according to the FDIC official website, the Federal Deposit Insurance Corporation (FDIC) today released 175 documents related to the regulation of banks involved in or attempting to participate in crypto-related businesses. Acting Chairman Travis Hill stated that the FDIC had previously disclosed 25 "Pause" letters received by 24 banks, and the documents released this time include more correspondence from these banks, as well as related communication records from other banks.

The documents show that banks' requests to engage in crypto businesses have generally encountered resistance, including regulatory agencies repeatedly requesting additional information, long periods of non-response, or direct instructions to halt all crypto and blockchain activities, leading most banks to eventually abandon their related efforts.

Hill stated that the FDIC is reassessing its regulatory approach to crypto-related businesses and plans to replace the 2022 regulatory guidance (FIL 16-2022) to provide banks with a compliant path to engage in crypto businesses while ensuring safety and soundness. The FDIC will also participate in the President's Working Group to coordinate regulatory discussions on the digital asset market following the President's executive order on January 23rd.