Close Menu
Cryprovideos
    What's Hot

    Wait—Ripple Got here Earlier than Bitcoin? Newly Uncovered Doc Says So | Bitcoinist.com

    June 26, 2025

    China faces FOMO; Readies Itself As Greenback-pegged Stablecoins Broaden Quickly | UseTheBitcoin

    June 26, 2025

    ASX-Listed Biotech Agency Newest to Undertake a Bitcoin Technique to Keep Afloat – Decrypt

    June 26, 2025
    Facebook X (Twitter) Instagram
    Cryprovideos
    • Home
    • Crypto News
    • Bitcoin
    • Altcoins
    • Markets
    Cryprovideos
    Home»Crypto News»The FDIC has advised banks to chorus from offering crypto companies in over 20 circumstances, Coinbase finds
    The FDIC has advised banks to chorus from offering crypto companies in over 20 circumstances, Coinbase finds
    Crypto News

    The FDIC has advised banks to chorus from offering crypto companies in over 20 circumstances, Coinbase finds

    By Monika GhoshNovember 3, 2024No Comments2 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Receive, Manage & Grow Your Crypto Investments With BrightyReceive, Manage & Grow Your Crypto Investments With Brighty

    Coinbase chief authorized officer Paul Grewal mentioned that the crypto trade has found over 20 cases the place the Federal Deposit Insurance coverage Company (FDIC) requested banks to “pause” or “chorus from offering” or “not proceed” with crypto-related banking companies.

    In an X publish, Grewal wrote:

    “Briefly, the contents are a shameful instance of a authorities company attempting to chop off monetary entry to law-abiding American firms.”

    The invention was made after the FDIC shared 23 paperwork with Coinbase in accordance with its two Freedom of Info Act (FOIA) requests. Coinbase had requested entry to letters the FDIC despatched to banks to pause crypto companies.

    The FDIC is but to launch the precise letters, however the shared paperwork present condensed summaries. The letters, dated between March and October 2022, have been addressed to financial institution presidents and boards of administrators. The names of the banks weren’t disclosed.

    In every of the letters, the FDIC mentioned that it’s reviewing the banks’ proposed crypto companies and suggested them to carry off on offering such companies till the evaluation is accomplished. Most often, the FDIC was involved with the “financial institution’s authorized evaluation, evaluation of compliance with FDIC rules, security and soundness, and client safety.”

    In virtually each letter, the FDIC states that it requires additional data with a purpose to decide whether or not the proposed crypto service is protected. In line with Grewal, the FDIC despatched the letter to the financial institution as a part of Operation Chokepoint 2.0.

    Grewal mentioned that Coinbase will proceed to “get readability” from regulators via FOIA requests and “some other means vital.” He added:

    “The general public deserves transparency, not an company that’s working behind a bureaucratic curtain.”

    Earlier this week, in its shareholder letter for the third quarter of 2024, Coinbase mentioned that it’s “ready to work with both administration,” no matter whether or not Vice President Kamala Harris or Republican nominee Donald Trump wins the election on Nov 5.

    It’s because Coinbase believes that each presidential candidates have adopted crypto-friendly stances. The Oct 30 letter acknowledged:

    “Each presidential candidates, in addition to politicians throughout the political spectrum, have adopted extra favorable positions towards crypto, a big shift from earlier years.”

    Talked about on this article



    Supply hyperlink

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    China faces FOMO; Readies Itself As Greenback-pegged Stablecoins Broaden Quickly | UseTheBitcoin

    June 26, 2025

    Coinme pays $300K nice for violating California crypto ATM legal guidelines

    June 26, 2025

    Senate Passes Genius Act — However Now It Will get Sophisticated

    June 26, 2025

    Polymarket About To Shut $200M Funding Spherical: Reuters

    June 26, 2025
    Latest Posts

    Wait—Ripple Got here Earlier than Bitcoin? Newly Uncovered Doc Says So | Bitcoinist.com

    June 26, 2025

    ASX-Listed Biotech Agency Newest to Undertake a Bitcoin Technique to Keep Afloat – Decrypt

    June 26, 2025

    Metaplanet Launches $515M Bitcoin Treasury Growth Plan

    June 26, 2025

    Inexperienced Minerals Launches $1.2B Bitcoin Treasury Technique – Bitbo

    June 26, 2025

    Pompliano's ProCap Injects $128,000,000 into Bitcoin, Will It Flip Metaplanet?

    June 26, 2025

    Bitcoin Trade Flows Drop To 10-12 months Low – Consolidation Or Provide Shock? | Bitcoinist.com

    June 26, 2025

    FHFA Considers Bitcoin for US Mortgage {Qualifications} – Bitbo

    June 26, 2025

    Double Win: Dogwifhat Jumps 24% Alongside Bitcoin’s $107K Push

    June 26, 2025

    CryptoVideos.net is your premier destination for all things cryptocurrency. Our platform provides the latest updates in crypto news, expert price analysis, and valuable insights from top crypto influencers to keep you informed and ahead in the fast-paced world of digital assets. Whether you’re an experienced trader, investor, or just starting in the crypto space, our comprehensive collection of videos and articles covers trending topics, market forecasts, blockchain technology, and more. We aim to simplify complex market movements and provide a trustworthy, user-friendly resource for anyone looking to deepen their understanding of the crypto industry. Stay tuned to CryptoVideos.net to make informed decisions and keep up with emerging trends in the world of cryptocurrency.

    Top Insights

    Stablecoin, crypto market construction laws slated for approval by August – Bo Hines

    April 30, 2025

    Crypto Market Collapses, however Lightchain AI Defies the Downtrend and Reveals Energy—Right here’s What to Know | Dwell Bitcoin Information

    April 10, 2025

    Crypto Replace | Europe's First Spot Bitcoin ETF Opens in Holland

    February 11, 2025

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    • Home
    • Privacy Policy
    • Contact us
    © 2025 CryptoVideos. Designed by MAXBIT.

    Type above and press Enter to search. Press Esc to cancel.