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@yjk

2086 Following
361 Followers


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@yjk Travis Hill, interim chairman of the Federal Deposit Insurance Corporation (FDIC), recently admitted in a speech that the agency has "de banked" cryptocurrency companies. He pointed out that there are indeed some companies related to cryptocurrency that have lost banking services without any explanation and called this practice "unacceptable". Travis Hill further stated that "the long-term goal of the FDIC is to reduce the number of people without bank accounts, and depriving law-abiding customers of bank accounts is unacceptable." He also emphasized that the Federal Deposit Insurance Corporation must ensure that no staff member exerts pressure on banks to abandon law-abiding customers. In addition, he criticized the FDIC's current attitude towards cryptocurrency, stating that the agency is too cautious and stifles innovation. It is reported that the leadership transition of FDIC is expected to begin on January 20th. @ftihvb
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@yjk According to Cointelegraph, cryptocurrency research firm CoinShares stated in a blog post on January 10th that establishing a reserve bank in the United States will accelerate the adoption of Bitcoin, even faster than the launch of exchange traded funds (ETFs) in 2024. In 2024, US lawmakers proposed the Bitcoin Act, which would instruct the US Treasury Department to purchase 1 million BTC within 5 years to establish a 'strategic Bitcoin reserve'. President elect Donald Trump approved the plan, but it has not yet been passed into law. CoinShares stated, "We believe that the enactment of the US Bitcoin Act will have a more profound long-term impact on Bitcoin than the launch of ETFs." CoinShares stated that "multiple interactions with institutional clients" indicate that Bitcoin's "reputation" as an asset class remains a major obstacle for institutions to adopt BTC. @oftegkc
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