FDIC Acting Chairman: Debanking actions against the cryptocurrency industry are unacceptable

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 indeed some crypto-related businesses have lost banking services without any explanation and called this practice "unacceptable."

Travis Hill further stated: "The FDIC's long-term goal is to reduce the number of people without bank accounts, and 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 to abandon law-abiding customers. In addition, he criticized the FDIC's current attitude towards cryptocurrencies, believing that the agency is overly cautious and stifles innovation. It is reported that leadership changes at the FDIC are expected to begin on January 20th. (CryptoSlate)