The regulators have withdrawn several statements regarding banks’ crypto-related activities in an effort to support innovation and clarify current policies.

Like the other U.S. bank agencies, the Fed has swept the decks of previous directives to bankers that they get sign-offs from the regulator for crypto activity.

U.S. banking regulators on Thursday rescinded multiple guidance documents that had previously urged caution in crypto-related activities, according to Reuters. The Federal Reserve withdrew two supervisory letters requiring banks to seek approval before engaging with crypto-assets and stablecoins.