FDIC: stop to all crypto buiness

FDIC: stop to all crypto business?

17 March 2023

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An FDIC agent has declined the imputation that all of the Signature Bank buyers must accept to renounce to all crypto business as part of the transaction. 

More than one source said all buyers have opted out of cryptocurrency transactions at the Signature Bank. Another source - derived directly from the bank - said that however the agency will not ask for a halt to cryptographic activities.

FDIC regulators proposed to some bank to acquire failed dealers like Silicon Valley Bank or Signature Bank. Until March 17, who have interest must present an offer. 

The only banks that will be allowed to participate will be those with existing banking status. In the ranking, traditional lenders will occupy the first place.

The FDIC is targeting the sale of both SVB's and Signature's entire businesses. If the sale of the entire businesses fails, portions of both banks may be put up for sale.

SOURCE: CoinTelegraph

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