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In early 2025, the FDIC released documents related to its supervision of crypto-related activities, indicating a potential shift in how the agency oversees banks engaged in digital asset and fintech partnerships. This release followed an earlier period during which the FDIC had effectively paused or discouraged certain crypto-related activities by supervised banks. The document release is significant for BaaS banks that serve as partners to crypto and fintech companies, as it signals that the FDIC may be recalibrating its stance to balance innovation with risk controls. The action is part of a broader supervisory trend emphasizing third-party risk management in fintech relationships, including cybersecurity, AML/KYC, and AI oversight. No specific enforcement action against a named bank was included, but the guidance has direct implications for BaaS sponsor banks operating in the crypto space.

Verified from source: The FDIC released 175 documents related to its supervision of banks engaged in crypto-related activities, revealing widespread resistance to bank crypto initiatives. Acting Chairman Travis Hill announced a comprehensive reevaluation of the FDIC's supervisory approach to crypto-related activities, including replacing FIL 16-2022.