FDIC blasts US agencies’ closed-off regulatory approach
FDIC Vice Chair Travis Hill blasted his agency and the SEC for their approach to digital assets, leaving no room for positive engagements.
Latest Federal Deposit Insurance Corporation News
FDIC agrees to up digital asset industry risk assessments
In addressing risks posed by digital assets, the FDIC is urged to set up timeframes to strategically assess threat and asset-related activities, as well as update and clarify the supervisory feedback.
Digital assets pose ‘novel and complex risks’ to US banking system, FDIC says
The FDIC’s annual Risk Review for 2023 is the first to be published since the banking chaos of March 2023, which saw the failure of Silicon Valley Bank and Signature Bank.
OKCoin’s fake insurance claims draw the ire of FDIC
OKCoin exchange has claimed in at least three separate instances that its customers enjoy insurance protection, which the FDIC wants to cease immediately.
Funds on payment platforms may not be FDIC insured, US regulators warn
The U.S. Consumer Financial Protection Bureau advises the public to be cautious in storing funds on payment platforms, stressing that the FDIC may not always insure transactions done under these apps.
GOP Congressman Tom Emmer accuses FDIC of weaponizing bank closures to attack digital asset industry
Republican Congressman Tom Emmer wrote a letter to the Chairman of the FDIC, Mark Gruenberg, voicing his concerns about the organization’s role in the closures of tech-friendly banks.
Bitcoin doesn’t fix this
As we watch the Federal Reserve, FDIC and other agencies reassure the world that “everything is fine,” we also have to deal with the nauseating cacophony of small blockers pretending to be excited about global collapse because “Bitcoin fixes this.”
Crypto’s US banking access more uncertain than ever
Silvergate has been living on borrowed time since it failed to file its latest financial report with the U.S. Securities and Exchange Commission by the already extended deadline.
FDIC warns CEX.IO exchange against misleading insurance claims
The FDIC issued a cease and desist letter to CEX.IO demanding that it removes all references to FDIC insurance as the agency doesn’t cover digital assets.
US officials call on Congress to ‘step up’ its digital asset efforts
Four U.S. officials urged Congress to heighten its regulatory approach toward the digital asset industry by laying out specific recommendations, including expanding the executive branch's power.
Gemini lied about FDIC insurance in emails to Earn customers: report
In legally ambiguous and vague language, Gemini repeatedly told its customers that funds were FDIC-insured, giving them false hope that their money was safe.
US Fed, OCC urge banks to be cautious with digital assets
The two joined the FDIC in issuing a statement saying 2022’s events exposed the vulnerabilities of the sector, urging banks to keep digital currencies at arm’s length.