Reported 3 days ago
Documents reveal that the FDIC advised banks to pause direct involvement in cryptocurrency but did not instruct them to cut off banking services to crypto companies. This follows a legal case prompting the FDIC to release internal communications regarding its supervisory stance on crypto. The released documents indicate FDIC’s cautious approach towards the crypto sector amidst concerns of risks while clarifying that banks are still allowed to offer traditional services to crypto clients.
Source: YAHOO