Gamechanger for the crypto industry: FDIC ends Debanking policy and reacts to political pressure

Die FDIC ändert ihre Richtlinien: Abkehr vom Krypto-Debanking Die Federal Deposit Insurance Corporation (FDIC) hat eine bedeutende Regeländerung angekündigt, die die Krypto-Branche nachhaltig beeinflussen könnte. In einem klaren Schritt gegen die bisherigen Debanking-Praktiken reduziert die FDIC den Druck auf Krypto-Unternehmen und signalisiert eine Abkehr von restriktiven Maßnahmen, die in den vergangenen Jahren vor allem als Teil von Operation Choke Point 2.0 angesehen wurden. Die FDIC, ein zentraler Akteur in der Finanzregulierung der USA, hatte in der Vergangenheit Maßnahmen ergriffen, die als Krypto-Debanking bezeichnet wurden und die darauf abzielten, Unternehmen aus der Kryptowährungsbranche zu disziplinieren. Kritiker werfen der FDIC vor, ein …
The FDIC changes its guidelines: Coming from crypto debanking The Federal Deposit Insurance Corporation (FDIC) has announced a significant change of control that could have a lasting impact on the crypto industry. In a clear step against the previous Debanking practices, the FDIC reduces the pressure on crypto companies and signals a departure of restrictive measures, which have been seen primarily in recent years as part of Operation Choke Point 2.0. In the past, the FDIC, a central actor in the financial regulation of the United States, had taken measures that were called crypto debanking and aimed at disciplining companies from the cryptocurrency industry. Critics accuse the FDIC, a ...
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The FDIC changes its guidelines: departure from crypto debanking

The Federal Deposit Insurance Corporation (FDIC) has announced a significant change of control that could have a lasting impact on the crypto industry. In a clear step against the previous Debanking practices, the FDIC reduces the pressure on crypto companies and signals a departure of restrictive measures, which have been seen primarily in recent years as part of Operation Choke Point 2.0.

The FDIC, a central player in the US financial regulation, had taken measures in the past, which were called crypto debanking and that aimed to discipline companies from the cryptocurrency industry. Critics accuse the FDIC of using a vague “reputation risk” as the basis for their supervision. This criterion was often used as an excuse to exclude legitimate crypto companies from banking services.

David Sacks, Donald Trump's crypto boss, announced that the decision of the FDIC to no longer take into account the risk of reputation in banking supervision is a great victory for the crypto industry. Senator Tim Scott is close to the Firm Act, a legislative initiative that aims to abolish the evaluation of reputation risks for companies. While the draft law is currently going through the committee, the FDIC is already responding to the continuing demands for a relaxation of the debanking practices.

Trump had identified the end of Operation Choke Point 2.0 as one of the priorities of his government and criticized the FDIC because of its role in crypto debanking. Towards the end of Biden's term of office, FDIC members such as Travis Hill expressly expressed concerns about the measures of the authority. Hill has now taken over the office of chairman and has moved the FDIC to create more transparency about its earlier Debanking efforts.

The departure from these practices has potentially far -reaching effects on the financial sector as a whole. While the crypto industry has suffered from the FDIC activities in the past, the debanking efforts also extended to other industries. Despite critical voices that fear that less strict rules could benefit unfairly actors, the development signals a more generally positive attitude towards the cryptocurrency industry.

With the change in the guidelines, the FDIC seems ready to adapt to an industry that is becoming increasingly important since President Trump took office. In this context, the Firm Act could now appear to be superfluous as a legislative measure, since the FDIC takes the change towards a more crypto-friendly orientation.

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Die FDIC ändert ihre Richtlinien: Abkehr vom Krypto-Debanking Die Federal Deposit Insurance Corporation (FDIC) hat eine bedeutende Regeländerung angekündigt, die die Krypto-Branche nachhaltig beeinflussen könnte. In einem klaren Schritt gegen die bisherigen Debanking-Praktiken reduziert die FDIC den Druck auf Krypto-Unternehmen und signalisiert eine Abkehr von restriktiven Maßnahmen, die in den vergangenen Jahren vor allem als Teil von Operation Choke Point 2.0 angesehen wurden. Die FDIC, ein zentraler Akteur in der Finanzregulierung der USA, hatte in der Vergangenheit Maßnahmen ergriffen, die als Krypto-Debanking bezeichnet wurden und die darauf abzielten, Unternehmen aus der Kryptowährungsbranche zu disziplinieren. Kritiker werfen der FDIC vor, ein …
The FDIC changes its guidelines: Coming from crypto debanking The Federal Deposit Insurance Corporation (FDIC) has announced a significant change of control that could have a lasting impact on the crypto industry. In a clear step against the previous Debanking practices, the FDIC reduces the pressure on crypto companies and signals a departure of restrictive measures, which have been seen primarily in recent years as part of Operation Choke Point 2.0. In the past, the FDIC, a central actor in the financial regulation of the United States, had taken measures that were called crypto debanking and aimed at disciplining companies from the cryptocurrency industry. Critics accuse the FDIC, a ...

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