The interim Chair of the Federal Deposit Insurance Corporation (FDIC), Travis Hill, acknowledged the agency's involvement in denying banking services to crypto-related businesses during a speech on January 10. Hill stated that this practice of "debanking" crypto firms is unacceptable and contradicts the FDIC's mission to reduce the number of unbanked Americans. His comments shed light on the alleged efforts of the Biden administration to hinder the growth of the US crypto industry, known as "Operation Chokepoint 2.0." Hill called for an end to debanking practices and urged the FDIC to provide clear guidance on legally permissible crypto activities. He also criticized the agency's cautious approach to crypto, which he believes has stifled innovation in the space. Hill emphasized the need for a balanced approach to bank supervision and suggested that the FDIC modernize its policies to keep up with the evolving financial landscape.



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