The U.S. Federal Reserve has made a significant shift in its regulatory approach to banks handling cryptocurrency and stablecoin activities. On April 24th, the Board of Governors issued a statement announcing the withdrawal of its 2022 supervisory letter, which previously required state member banks to provide advance notice for any planned or ongoing crypto-asset ventures. This change marks a significant move towards a more streamlined regulatory approach for banks in the ever-evolving cryptocurrency sector. The Federal Reserve is now relying on its standard supervisory process for overseeing these activities, eliminating the need for extra pre-notification procedures. Additionally, the Fed has also withdrawn its 2023 supervisory letter regarding stablecoin participation by state banks. This change reflects the Federal Reserve’s ongoing efforts to adapt its regulatory framework to the rapidly changing cryptocurrency landscape. Further updates will be provided as information becomes available.