Yesterday both the Federal Deposit Insurance Corporation (FDIC) and Federal Reserve Governor Bowman made statements that were supportive of cryptocurrencies and/or DLT.
New acting FDIC Chair, Travis Hill, released a raft of letters that disclose the regulator’s past attempts to shut down banks from participating in cryptocurrency activities during the Biden administration. The letters were in response to litigation by Coinbase aiming to address the de-banking of the industry. There was also a Senate hearing on the topic yesterday.
Mr Hill, a Republican, noted the letters show bank requests to engage in crypto or blockchain activities were “almost universally met with resistance.”
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