The Federal Insurance Deposit Corporation (FDIC) releases hundreds of documents that uncover how American institutions were instructed to be robbed of crypto-related services.
In a new press release, the FDIC – the government agency that insures deposits in American banks – out It reveals 175 documents that reveal how the banks accompanied those who participated in or were interested in crypto-related services.
Travis Hill, acting chairman of the FDIC, said in the press release that the documents that revealed today show that the FDIC made it so difficult for banks to expose themselves to digital assets and blockchain services, that many of them try it on would give.
“I have been critical in the past of the FDIC’s approach to crypto assets and blockchain. As I said last March, the FDIC’s approach ‘contributed to a general perception that the Bureau for the Business was concluded if institutions are interested in something related to blockchain or distributed ledger technology’ …
From the documents that we release today, show that requests from these banks were almost universal resistance, ranging from repeated requests for more information to several months of silence while institutions were waiting for answers, to pause guidelines for pausing, to suspend, to suspend, to suspend, to suspend, to suspend, suspend, to suspend, suspend, to suspend, to suspend, to suspend, to suspend, on to suspend, to suspend, to suspend, to suspend, to suspend, to suspend, suspend, to suspend, to suspend. Or refrain from expanding all crypto or blockchain-related activity.
Both individually and collectively, these and other promotions sent the message to banks that it would be extremely difficult – if not impossible – to move forward. As a result, the vast majority of the banks just stopped trying. “
Last December a Free -free of Information Act (FOIA) request from Coinbase found dozens of cases in which the FDIC banks asked to freeze crypto -related services.
At the time, Coinbase Chief Legal Officer Paul Grewal said that the information almost confirmed that the idea that the US government was trying to undermine the digital assets industry was not a conspiracy theory.
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