The Federal Board of Directors Deposit Insurance Corporation should discuss the proposed rules that may have an impact on cryptography societies in the midst of debannage allegations.
In an opinion Thursday, the FDIC said that its board of directors would envisage a proposed regulatory notice “concerning the prohibition of the use of the risk of reputation by regulators”. Although the agenda has not explicitly mentioned the reboundation concerns linked to digital assets, the president of the acting FDIC, Travis Hill, previously criticized regulators to use the “risk of reputation” as justification to prevent certain banks from engaging in cryptographic activities, such as allowing customers to send funds to trade.
https://www.youtube.com/watch?v=-cpjxnan8S4
US President Donald Trump used the term in an August executive decree “guaranteeing a free bank”, saying that having regulators access to reputation could lead to “a politicized or illegal dispenser”. The order has not specifically mentioned digital assets.
Before Trump took up his duties and signed the decree, many members of the cryptographic industry allegedly alleged that they have been denied access to American banking services as part of a thrust orchestrated by the authorities because of their links with digital assets.
The court documents made public in December as part of a request from the Freedom of Information Act with the FDIC have shown that the regulator has asked certain institutions to “suspend any activity linked to crypto assets” in 2022.
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The alleged actions, nicknamed “Operation ChokePoint 2.0” by some, have become a question of campaign for Trump and many Republicans in the 2024 elections. After Trump won the presidential election and appointed Hill, the president of the acting FDIC declared that the regulator “would re -evaluate (his) approach to supervision of activities related to the crypto”.
Cointelegraph stretched out the FDIC for comments but had not received an answer at the time of publication.
Stopping from the US government under way under Trump
At midnight on Tuesday, the US government closed after the legislators did not adopt a bill extending funding beyond October 1.
Although the closure has considerably reduced operations in American financial regulators such as Securities and Exchange Commission and Commodity Futures Trading Commission, the FDIC said that it would remain “open and operational”, whatever the duration of the political struggle.
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