• Advertise with us
  • Pricing
  • Submit News
Instagram Twitter Facebook Telegram Youtube Linkedin
EdaFace Newsfeed
EdaFace Newsfeed EdaFace
  • News
    • Price Analysis

    Main News

    • Crypto News
    • Bitcoin and BTC
    • Altcoin News
    • Security & Hacks
    • ICO & Token Sales
    • Interviews & Profiles

    Information

    • Press Release
    • Research Report
    • Regulations, Law & Policy
    • Community/Guest Post
    • Events & Conferences
    • Tutorials & Guides

    Market

    • Technical Analysis
    • Price Analysis
    • Cryptocurrency Price Prediction
    • DeFi (Decentralized Finance)
    • Mining & Staking

    Other Categories

    • NFTs & Digital Art
    • Opinion & Editorials
    • Tech Innovations
  • Cryptocurrencies
    • Coin Ranking
    • Trending
    • EDA Token
  • Exchanges
    • Spot
    • Derivatives
    • DEX
    • EDA Plantation
  • Verification Centre
    • Rug Pull Check
    • Blockchain Ecosystem
    • EDA Token
  • MarketPlaces
    • NFT Marketplace
    • Digital Literature
    • Digital Mall
    • P2P Market
    • Metaverse
  • EDA Academy
More
  • News
    • Price Analysis
  • Cryptocurrencies
    • Coin Ranking
    • Trending
    • EDA Token
  • Exchanges
    • Spot
    • Derivatives
    • DEX
    • EDA Plantation
  • Verification Centre
    • Rug Pull Check
    • Blockchain Ecosystem
    • EDA Token
  • MarketPlaces
    • NFT Marketplace
    • Digital Literature
    • Digital Mall
    • P2P Market
    • Metaverse
  • EDA Academy
Reading: USA FDIC shares the documents of crypto hostility
Share
Sign In
EdaFace Newsfeed
EdaFace Newsfeed EdaFace
EdaFace Newsfeed > Latest News > Regulations, Law & Policy > USA FDIC shares the documents of crypto hostility
Regulations, Law & Policy

USA FDIC shares the documents of crypto hostility

vitalclick
Last updated: February 6, 2025 12:53 am
2 days ago
Share
SHARE

The Federal Deposit Insurance Institution (FDIC) announced 175 documents including the audit process for banks related to crypto activities. The documents were introduced to the market before the congress hearing before and soon. The documents announced draw attention in terms of revealing the difficulties experienced by the regulatory institution in communication and demands with banks.

Documents and Inspection ProcessArrangement for the Future

Documents and Inspection Process

In the documents published, despite the continuous request of additional information from the banks, there were long delays and the instructions to stop activity given from the auditors. With the expansion of the 25 “pause” letters sent by FDIC for 24 institutions in the past, correspondence with different institutions were included in the documents.

The Congress hearing was planned to address the banking practices and financial access issues. At the hearing, FDIC’s previous audit method and applications play a role in preventing banks’ associated activities with Blockchain. In this context, how regulatory barriers affect digital assets attempts will be discussed.

Travis Hill: “Documents reveal that almost all of the desires of the banks have shown regulatory resistance.”

Senator Cynthia Lummis found the statement of FDIC’s documents positive in terms of transparency. Lummis stated that the practices of the limitation of banking access have ended and supported these efforts of the institution. The statement emphasized that the clarification of the regulatory process may benefit for the sector.

Arrangement for the Future

The FDIC plans to reconsider the current audit approach and create a more flexible regulatory frame for crypto activities. In collaboration with the Presidential Working Group, a configuration in accordance with the security principles is aimed. This initiative aims to contribute to the development of the sector in the light of past feedback.

The FDIC’s documents move reflects the search for transparency and accountability in the audit process. Published documents, while revealing the complexity of communication between banks and regulatory institutions, they can offer clues about the future of the sector. These developments may contribute to the reshaping of the regulatory environment for the initiatives of financial institutions on digital assets.



Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.

You Might Also Like

Kraken Decided to Delist Altcoin Exclusive to the European Region

Hot Development: First Data on US Elections

Tether CEO’s Statements Today on Cryptocurrency Regulations

Prison Sentence for Person Who Underdeclared Bitcoin Earnings

Prominent Lawyer Criticizes New Cryptocurrency Tax Rule

TAGGED:law
Share This Article
Facebook Twitter Email Print
Previous Article XLM at Risk of 40% Price Drop, Pattern Sparks Sell-Off Warnings
Next Article Shiba Inu Rally Imminent? 1.23 Trillion SHIB Moves into Wallet
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Crypto Live Widget

Follow for Live Updates
Subscribe to our newslettern

Get Newest Articles Instantly!

- Advertisement -
Ad imageAd image
Popular News
Cryptocurrency Regulation in Russia : Blockchain Development
Current Cryptocurrency Regulations in India
Explore Cryptocurrency Regulation in South Korea
2 Altcoins Win Trial
Claimed Bitcoin Inventor Craig Wright Gets Shocked in Court! His Assets Are Frozen

Company

  • Vision
  • Mission
  • LitePaper
  • Whitepaper
  • Core Values
  • Branding
  • Teams
  • Career Listing
  • FAQ
  • Welfare Donations

Products

  • EDA Token
  • Blockchain Literature
  • EdaFace Dex
  • EdaFace Mall
  • Listing Platforms
  • Newsfeed
  • NFT Marketplace
  • P2P Market
  • Scam Verification Centre
  • School of Crypto

Legal

  • Term of Use
  • Privacy Policy
  • Disclaimer
  • Listing T&C
  • Listing Platforms
  • Eda Token Policy

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

EdaFace

About US

EdaFace is a user interface aggregator that brings all the various functionalities of the crypto industry onto a single platform! You can advertise, launch and crowdfund your crypto project via EdaFace Launchpad and Newsfeed.

Contact us: support@edaface.com

Follow us

Instagram Twitter Facebook Telegram Youtube Linkedin

Copyright © 2022 – 2024. EdaFace is a product of Emerging Digital Age (EDA) Pty Ltd. All Rights Reserved.

Join Us!
Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.
EdaFace
Welcome Back!

Sign in to your account

Lost your password?