The Federal Deposit Insurance Corporation (FDIC) is revising its guidance on cryptocurrency, notably eliminating the pre-approval requirement for banks to engage in crypto-related activities. Acting Chairman Travis Hill announced that additional guidance will be forthcoming, particularly regarding Bitcoin and other cryptocurrencies. This update is part of a broader initiative to facilitate compliance for banks involved in digital assets and to explore the potential use of public blockchains. The FDIC's focus on these changes reflects an evolving regulatory landscape for digital currencies and banking practices.