FDIC Proposes New Rule on State Bank Parity, Covering Digital Asset Activities

Odaily reports that the Board of Directors of the U.S. Federal Deposit Insurance Corporation (FDIC) has approved a proposed rule aimed at establishing parity of treatment for out-of-state state-chartered banks and federal banks with respect to the application of state law. The rule would clarify the state laws applicable to state-chartered banks operating across state lines, covering innovative financial activities such as digital asset-related business. U.S. Senator Cynthia Lummis of Wyoming stated that the proposal is expected to inject new momentum into the state-level banking system and responsible innovation, including in digital assets.