The U.S. Federal Deposit Insurance Corporation (FDIC) has indicated a shift towards a more pro-crypto stance during a Senate hearing on the alleged de-banking of crypto companies. Acting FDIC Chair Travis Hill announced the agency's intention to reassess its supervisory approach to crypto-related activities, including replacing a 2022 guidance document that had restricted banking access for crypto firms. This move comes amidst growing concerns over 'Operation ChokePoint 2.0,' a campaign allegedly pressuring banks to cut ties with crypto businesses.
The U.S. Federal Deposit Insurance Corporation has signaled a pro-crypto shift amid the ongoing U.S. Senators’ hearing on the alleged de-banking of crypto firms during the Biden Administration.
“We are actively reevaluating our supervisory approach to crypto-related activities. This includes replacing Financial Institution Letter 16-2022 and providing a pathway for institutions to engage in crypto- and blockchain-related activities while still adhering to safety and soundness principles.” This got the attention of policymakers, and with the new Trump Administration, things began moving fast. On the 5th of February, the U.S. Senate Committee on Banking held its first
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