PANews reported on April 25 that according to the Federal Reserve's official website, the Federal Reserve has revoked the 2022 regulatory letter requiring state member banks to report crypto asset activities in advance and the 2023 non-objection procedure letter regarding US dollar token activities, and jointly with the FDIC withdrew from two 2023 statements jointly issued with the OCC on crypto asset risks and liquidity risks.

In this regard, Michael Saylor said that banks can now start supporting Bitcoin. Eleanor Terrett said that the Federal Reserve has revoked about 95% of its anti-crypto regulatory guidance. Caitlin Long, founder and CEO of Custodia Bank, said that although the Federal Reserve has revoked most of its anti-crypto regulatory letters, the key guidelines unanimously approved by the board of directors on January 27, 2023 have not been revoked, which means that the Federal Reserve's supervision of banks in areas such as stablecoins is still restricted, and is at a disadvantage compared to the OCC and FDIC's supervision of banks. She questioned whether this practice has violated Trump's executive order and said that future related bills may overturn the restriction.