US lawmaker accuses FDIC of using banking instability to attack crypto By Cointelegraph
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Tom Emmer, Majority Whip of the United States House of Representatives, has reiterated concerns that the federal government is “weaponizing” concerns around the banking industry to go after crypto.
In a March 15 letter, Emmer called on Federal Deposit Insurance Corporation chair Martin Gruenberg to answer questions as to whether the government corporation has specifically instructed banks not to provide services to crypto firms, or suggested doing so may be an “onerous” task. The Minnesota Representative cited claims from Signature Bank (NASDAQ:) board member and former U.S. Representative Barney Frank, who reportedly called the FDIC moving against Signature as a “strong anti-crypto message” rather than based on concerns about the bank’s solvency.
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Tom Emmer, Majority Whip of the United States House of Representatives, has reiterated concerns that the federal government is “weaponizing” concerns around the banking industry to go after crypto.
In a March 15 letter, Emmer called on Federal Deposit Insurance Corporation chair Martin Gruenberg to answer questions as to whether the government corporation has specifically instructed banks not to provide services to crypto firms, or suggested doing so may be an “onerous” task. The Minnesota Representative cited claims from Signature Bank (NASDAQ:) board member and former U.S. Representative Barney Frank, who reportedly called the FDIC moving against Signature as a “strong anti-crypto message” rather than based on concerns about the bank’s solvency.
Continue Reading on Coin Telegraph
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