FDIC 790 pages of encryption messages, revealing the regulatory pressure on banking services for encryption – Cryptomode
The Federal Deposit Insurance Corporation (FDIC) has released a range of 790 pages of correspondence that was not previously revealed, as it shed light on the scenes of the scenes on banks that deal with encryption companies.
Documents, obtained through the Freedom of Information Law (FOIA), proposes a systematic effort to restrict banking services to digital asset companies – not familiar in the name of Operation CokePoint 2.0 by those familiar with the industry.
Curd companies facing bank barriers
According to The materials releasedAnd faced many banks that seek to communicate with encryption work in organizational recovery. According to the FDIC, at least 24 temporary messages, and advice to institutions to stop or reduce encryption services. These communications were often martyred concerns about financial stability, risk management, and organizational compliance.
A message received by FDIC from Senator Lomes. source.
In addition, it is claimed that the maximum of 15 % on bank deposits is from encryption companies, which increases the reduction of banking options for the sector. The documents indicate that banks have faced a constant delay, excessive scrutiny, and the transformation of organizational goals, which makes it increasingly difficult for encryption companies to reach traditional financial services.
After issuing the document, Senator Wyoming Centeh Lomes was accused of destroying critical records of dealing with encryption companies. Since then, Lummis instructed the agency to maintain all documents related to the activities of digital assets dating back to 2022, warning that any attempts to eradicate evidence could lead to criminal referrals to the Ministry of Justice.
source: Copy’s message.
Meanwhile, the Securities and Stock Exchange Commission is subject to its own transformation, and it is said to restore the enforcement unit for its encryption by reseting employees to other regions. Some consider this as part of the broader Trump administration axis, which aims to reduce organizational friction and put the United States as a global pioneer in digital assets.
A turning point for encryption regulation?
With the Chairman of the FDIC Travis Hill Board of Directors indicates a possible reassessment of the agency’s position on digital assets, the tide may turn. However, the organizational uncertainty brings to the forefront the continuous battle between monitoring traditional financing and the advanced encryption sector. Whether this represents a real turning point or just a temporary re -postponement that must be seen.
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