Ripple's Chief Technology Officer criticizes the actions taken by the Federal Deposit Insurance Corporation of the United States towards cryptocurrency
New documents reveal that in 2022, the Federal Deposit Insurance Corporation (FDIC) of the United States suggested banks suspend activities related to cryptocurrency due to unresolved regulatory risks. An investigation by Coinbase into these actions found that FDIC has prevented financial institutions from providing services to the crypto industry more than 20 times. In response to FDIC's stance, Ripple Chief Technology Officer David Schwartz criticized FDIC's actions towards cryptocurrencies on social media, questioning the logic of taking enforcement action in an environment of regulatory uncertainty, especially after Coinbase publicly disclosed that FDIC tried to prevent banks from supporting this industry.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
UK 10-Year Bonds Auction Today: May Hammer at 5.41%, Auction Yield Could Hit Highest Level Since 1999
The yield on UK 10-year government bonds has reached 5.41%, the highest level in 19 years, and the £4.25 billion auction cost is the highest since 1999.
Worse than 2008? Outside the AI bubble, the new fund supported by "The Big Short" Michael Burry targets risks in private credit.
While Wall Street is busy searching for signs of a bubble in AI stocks, a new hedge fund connected to 'Big Short' Michael Burry is turning its attention to another potentially more dangerous area—private credit.
Tesla approved to launch autonomous driving software in Croatia
The euro is approaching its yearly low against the US dollar: hit by energy shocks and European political risks, it has fallen about 2% this month.
The resilience of the euro against the U.S. dollar is being tested by energy prices and political risks.
Crypto prices
More
