FDIC Acting Chairman: The 'debanking' behavior towards the crypto industry is unacceptable

According to CryptoSlate, the acting chairman of the Federal Deposit Insurance Corporation (FDIC), Travis Hill, recently admitted in a speech that the agency has "de-banked" 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 FDIC's long-term goal is to reduce the number of people without bank accounts. It is unacceptable to deprive law-abiding customers of their bank accounts." He also emphasized that the FDIC must ensure that no staff member should pressure banks into abandoning lawful customers. In addition, he criticized the FDIC's current attitude towards cryptocurrencies, believing that the agency is overly cautious and stifling innovation.