FDIC proposes rule to support state-chartered banks in digital asset activities

The FDIC board has approved a proposed rule aimed at establishing parity between out-of-state, state-chartered banks and national banks regarding the application of state laws. The rule clarifies which state laws apply to state-chartered banks operating across state lines, including those involved in innovative financial activities such as digital asset services. Senator Cynthia Lummis noted that the proposal could provide momentum for state-level banking systems and responsible innovation.