The Federal Reserve has taken significant steps to ease restrictions on cryptocurrency activities within the banking sector by rescinding two major rules from 2022 and 2023. These rules, part of the Biden-era policies known as Operation Chokepoint 2.0, previously required banks to pre-announce their plans for crypto activities and to seek nonobjection for working with dollar tokens. The Federal Reserve's decision to monitor these activities through normal supervisory processes aligns with efforts to drive mainstream adoption of cryptocurrencies. This move reverses policies associated with the Biden administration, aimed at limiting banking access to crypto businesses. The change in policy is expected to facilitate broader digital asset adoption and innovation within the financial sector.