The U.S. Federal Deposit Insurance Corporation released documents disclosing that it warned the banking industry to stop crypto operator services in 2022 and 2023.
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2025-01-04 11:01 7,559
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Golden Finance reported that according to disclosure documents, the Federal Deposit Insurance Corporation (FDIC), one of the U.S. banking regulatory agencies, warned the banking industry in 2022 and 2023 that it should stop providing banking services to cryptocurrency operators. The relevant documents are in ongoing litigation with the FDIC. Lawyers on behalf of cryptocurrency trading platform Coinbase petitioned a judge to make it public. After a judge approved the application, the FDIC last month released an abridged version of the document it sent to some banks that year, warning the banking industry to stop providing banking services to cryptocurrency operators. It is reported that the plaintiff’s lawyers later asked the judge to order the FDIC to disclose a more detailed version. The FDIC disclosed the relevant version and a 2022 internal notice on Friday, instructing regulators how to evaluate lenders’ direct handling of virtual currency assets and transactions with cryptocurrency companies. matters. Paul Grewel, legal counsel for Coinbase, said the content of the documents proves that the FDIC intends to block cryptocurrency companies and prevent them from using traditional banking services.