Travis Hill, the acting chairman of the Federal Deposit Insurance Corporation (FDIC), has announced a re-evaluation of the agency's guidance on cryptocurrency as U.S. senators investigate regulatory pressures preventing banks from engaging with crypto clients. Hill emphasized that the FDIC aims to create pathways for banks to participate in crypto and blockchain activities responsibly. He acknowledged that the agency has historically resisted banks' requests related to cryptocurrency, leading to significant delays and regulatory pushback. During a Senate Banking Committee hearing, testimony from Nathan McCauley, CEO of Anchorage Digital, revealed widespread issues across the industry with banks cutting ties with crypto firms under regulatory concern. Senator Elizabeth Warren highlighted the struggles many face in accessing banking services, agreeing that it is often inappropriate for banks to deny service without justification, particularly when clients adhere to lawful practices.

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