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The FDIC has told banks to refrain from providing crypto services in over 20 cases, Coinbase finds – TON BOT

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The FDIC has told banks to refrain from providing crypto services in over 20 cases, Coinbase finds

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Coinbase’s chief legal officer, Paul Grewal, revealed that the FDIC has asked banks to pause or refrain from offering crypto-related banking services in over 20 instances. The discovery was made through FOIA requests, with the FDIC sending letters to banks to hold off on providing crypto services for review. Grewal criticized the FDIC for hindering financial access to legitimate American companies. The FDIC has not released the actual letters, but provided summaries expressing concerns about compliance with regulations, safety, and consumer protection. Grewal stated that Coinbase will seek transparency from regulators through various means. The crypto exchange expressed readiness to work with either Vice President Kamala Harris or Republican nominee Donald Trump, as both have shown favorable stances towards crypto.

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