The Federal Deposit Insurance Corporation of the United States has released a total of 175 documents showing its supervision of banks engaged in crypto-related activities

Odaily News The U.S. Federal Deposit Insurance Corporation (FDIC) recently released 175 documents detailing its supervision of banks engaged in crypto-related activities, a move that Acting Chairman Travis Hill saw as part of a broader effort to increase transparency.
Hill admitted to criticizing the FDIC’s stance as a deterrent for banks exploring blockchain and digital assets, stating: “I have been critical of the FDIC’s approach to crypto assets and blockchain in the past. As I stated last March, the FDIC’s approach ‘has led to a widespread perception that an institution cannot conduct business if it is interested in anything related to blockchain or distributed ledger technology.’” After assuming his position, Hill initiated a review of all regulatory communications related to crypto banks, explaining the timing of the document’s release, stating: “Upon becoming Acting Chairman, I directed staff to conduct a comprehensive review of all regulatory communications with banks that attempt to offer crypto-related products or services.”
Previously, the FDIC issued 25 “cease and desist” letters to 24 institutions interested in engaging in crypto or blockchain-related activities.