FDIC Changes Rule That Powered Crypto Debanking, Pre-Empting Legislation

The FDIC removed its reputational risk criteria in evaluating bank supervision, a key tool that drove crypto debanking efforts. Crypto Czar David Sacks called this a big win for the industry. The FDIC took this step in response to a proposed legislation that would mandate the same changes. This legislation is far from becoming law, but the FDIC reformed its own guidelines to fall in with Trump’s pro-crypto mandate source: https://beincrypto.com/fdic-crypto-debanking-reputational-risk-rule-change/