The acting chief of the Federal Deposit Insurance Corp (FDIC) has stated that the agency is revamping its supervision of digital assets and will reconsider its previous guidance that discouraged banks from engaging with cryptocurrencies. Travis Hill revealed this information during a Senate hearing on the issue. He said the FDIC will provide a pathway for financial institutions to participate in crypto and blockchain-related activities while adhering to safety and soundness principles. Hill also highlighted the resistance faced by banks seeking to offer crypto-related products or services, stating that requests were often met with silence or directives to halt such activities. The CEO of Anchorage Digital, who also testified at the hearing, noted that regulatory pressure had caused many banks to sever relationships with crypto companies.



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