The Huiscommissie for Supervision and Reform of the Government wants access to non-rejected documents from the Federal Deposit Insurance Corporation (FDIC) to investigate allegations that banks deliberately denied the crypto industry.
Last month, the FDIC published edited documents with regard to its supervision of crypto-related activities, including the so-called “breaking letters” that have been sent to 24 banks, as well as communication and records involving other regulated institutions.
In his letter to FDIC acting chairman Travis Hill, the chairman James Comer (R-KY) of the Huis Oversight Committee asks non-rejected copies of the documents.
“The committee requires non-rejected versions of the above document and other previously released breaks to better understand the relationship between relevant financial institutions and government regulators and their respective approaches of crypto-related activities.”
Hill criticized the Crypto FDIC approach during the BIDEN administration and said that the agency made the impression that it was closed for institutions interested in digital assets.
Comer says that the committee shares Hill’s concern that regulatory obstacles have deterred banks to carry out crypto activities.
“The committee is worried that over -range by government regulators can have randomly suppressed industries that they found unfavorable, which influenced the business activities by preventing entities from having access to cash to fulfill the payroll or stimulate technological and financial Innovation abroad. “
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