On June 25, 2025, the Board of Governors of the U.S. Federal Reserve announced that it is officially withdrawing its previous supervisory guidance that required regulated banks to notify regulators in advance before engaging in crypto-asset or dollar-token activities. The notices, initially issued in 2022 and 2023, mandated that member banks seeking to offer digital asset services submit advance notices. Under the renewed policy, the Federal Reserve, along with its fellow banking regulators—the FDIC and OCC—will now oversee such activities through their standard supervisory processes, rather than requiring a formal pre-approval step. Federal Reserve Chair Jerome Powell has emphasized that this shift reflects the Fed’s commitment to fostering innovation in the banking sector while maintaining strong risk management and consumer protection standards, signaling a more open stance toward responsible financial modernization