FDIC Acting Chair: Debanking Behavior Targeting the Cryptocurrency Industry Is Unacceptable

BlockBeats News, January 12, Acting Chairman of the Federal Deposit Insurance Corporation (FDIC) Travis Hill recently admitted during a speech that the agency had conducted "de-risking" against cryptocurrency companies. He stated that indeed some crypto-related businesses had lost banking services without any explanation, calling this practice "unacceptable."

Travis Hill further stated: "FDIC's long-term goal is to reduce the number of unbanked individuals, and the act of depriving law-abiding customers of banking services is unacceptable." He also emphasized that the FDIC must ensure that no staff member pressures banks to abandon law-abiding customers. Additionally, he criticized the FDIC's current stance on cryptocurrency, believing that the agency is too cautious and stifles innovation. It is reported that the FDIC's leadership transition is expected to begin on January 20. (CryptoSlate)