FDIC Releases 175 Documents on Actions Against Crypto Industry
The FDIC has just released 175 documents detailing its previous instructions and the suppression of bank commerce with cryptocurrency businesses. The document is related to a Congressional investigation into the Choke Point 2.0 operation.
Acting FDIC Chairman Travis Hill issued a statement in this press release. Hill criticized these anti-Criputo initiatives while serving as vice-chairman and has since been promoted.
FDIC’s War on Encryption
FDIC has a long history in the cryptocurrency community because it is straightforward Paradoxically, an example of a huge over-regulatory oversight. Under the so-called Choke Point 2.0 action, Instruct the bank to cut off cryptocurrencywe still Don’t know the full scope of this sport.
However, FDIC acting chairman Travis Hill attempted to pass release 175 related documents.
“In the past, I have been in FDIC’s approach to crypto assets and blockchain is crucial. As I said last March, the approach to FDIC’s has contributed to the general perception that if institutions are on the issue with blockchain or anything Related institutions are interested, the institutions have closed the enterprises Distributed ledger technology,’” Hill claimed in the accompanying press release.
Over the past four years, the FDIC has seriously damaged the relationship between cryptocurrencies and banks. Promote the community to build its own institutions. Under current management, the wind finally changed.
HILL Criticizes FDIC’s anti-corporate policy Before he became the agent chair. President Trump has Consider abolition of FDIC completely And during this period, Hill gave this promotion.
Whatever happens to FDIC in the long term, its relationship with cryptocurrencies is changing positively. The House Oversight Committee has Start investigating operational obstaclesthe Senate Banking Committee has its own investigation.
This set of files is issued Coordinate with the latter’s investigation.
“Imagine you’re a groundbreaking Web3 application startup who wants to change the way people use Crypto to pay for food. You’re close to your bank and are happy to implement this new payment method, but surveillance at FDIC Under, banks are hesitant. They keep saying, “We need more information” or “let’s wait” or just not responding, putting your app in trouble. This is similar to what a bank tries to explore or provide encryption services. experience.” Write Web3 Entrepreneur Angelica Saldaña.
The U.S. Legislature is seriously studying how the FDIC fights the crypto industry. Tomorrow, Coinbase’s Chief Legal Officer Program Testimonials on operating chokes and other revocations.
These efforts may help to draw new lessons for federal crypto enforcement. Ultimately, these surveys are still in their early stages, with many key factors at play.
President Trump, with the help of Elon Musk, proposed a radical shift to the federal government with the abolition of the agency in the future, which could mean lower enforcement of the cryptocurrency industry.
However, these developments are still questionable. Currently, it is clear that the federal investigation will continue to evaluate the operational depth of Choke Point 2.0.
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