The Federal Reserve has concluded its supervisory program monitoring U.S. banks involved in cryptocurrency activities, marking a shift in regulatory approach under the current administration. Initially, the program, started in 2023, required banks to adhere to strict guidelines regarding crypto custody and stablecoin services. The Fed stated it has gained sufficient understanding of the associated risks and will now oversee these activities through standard supervision instead of specialized scrutiny. This decision follows the withdrawal of previous supervisory letters that had limited banks' engagement with crypto. The Fed's prior cautious stance was a response to events such as the FTX collapse and the subsequent failures of several banks like Signature Bank. In a related context, President Trump has signed an executive order prohibiting the debanking of crypto-related initiatives, aiming to foster a more accommodating environment for the digital asset industry. The overall regulatory landscape for cryptocurrency has therefore shifted towards a more supportive approach under Trump's presidency, moving away from the stricter regulations that characterized the previous administration.

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