The Federal Deposit Insurance Corporation (FDIC) has made a significant change by removing the reputational risk criteria used in bank supervision. This criteria had driven efforts to restrict banking access for crypto businesses. The change aligns the FDIC with Trump's pro-crypto mandate and was influenced by the ongoing legislative process of the FIRM Act, which proposed similar changes.

Crypto Czar David Sacks sees this as a crucial success for the crypto industry, which has faced challenges due to policies previously justified using the now-removed criteria. The FDIC's adjustment came in response to pressure from both government and industry, marking a shift in US finance regulation.

President Trump's administration had identified the end of "Operation Choke Point 2.0," which involved the debanking of crypto businesses, as a priority. This development signifies a broader trend of financial regulators adopting a pro-crypto stance. The removal of reputational risk criteria by the FDIC could have broad implications for the financial sector, potentially facilitating growth in the crypto industry and reducing unfair debanking practices.