ChainCatcher News

The acting chairman of the Federal Deposit Insurance Corporation (FDIC), Travis Hill, recently acknowledged in a speech that the agency has engaged in "de-banking" practices against cryptocurrency companies. He pointed out that some crypto-related businesses have lost banking services without any explanation, calling this practice "unacceptable."

Travis Hill further stated, "The long-term goal of the FDIC is to reduce the number of unbanked individuals, and depriving law-abiding customers of their bank accounts is unacceptable." He also emphasized that the FDIC must ensure that no staff members pressure banks to abandon law-abiding customers. Additionally, he criticized the FDIC's current stance on cryptocurrency, believing that the agency is overly cautious and stifling innovation. It is reported that the leadership transition at the FDIC is expected to begin on January 20.