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Coin Edition 2024-12-08 17:36:00

Ripple CTO Slams FDIC’s Crypto Roadblocks Amid Coinbase Court Revelations

Ripple CTO Slams FDIC’s Crypto Roadblocks Amid Coinbase Court Revelations

Ripple CTO David Schwartz criticizes FDIC enforcement actions amid regulatory uncertainty. Coinbase reveals over 20 instances where the FDIC discouraged banks from supporting crypto activities. The crypto community anticipates changes with the pro-crypto Trump administration taking office in 2025. Ripple CTO David Schwartz has criticized the Federal Deposit Insurance Corporation (FDIC) for its actions against crypto, particularly following revelations from Coinbase about the FDIC’s efforts to discourage banks from supporting the industry due to regulatory uncertainty. FDIC’s Crypto Roadblocks Recent court filings and industry disclosures have put a spotlight on regulatory tactics concerning the crypto sector. New documents reveal that in 2022, the FDIC advised banks to suspend crypto-related activities, citing unresolved regulatory risks. Coinbase’s investigation into these actions uncovered over 20 instances where the FDIC discouraged financial institutions from offering services to the crypto sector. These findings came to light through a Vaughn Index outlining letters exchanged between the FDIC and banks. The documents, some dating back to M… The post Ripple CTO Slams FDIC’s Crypto Roadblocks Amid Coinbase Court Revelations appeared first on Coin Edition .

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