{"id":141230,"date":"2024-11-02T19:00:02","date_gmt":"2024-11-02T17:00:02","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=141230"},"modified":"2024-11-02T18:50:00","modified_gmt":"2024-11-02T16:50:00","slug":"coinbase-uncovers-fdic-advising-banks-to-halt-crypto-services","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/coinbase-uncovers-fdic-advising-banks-to-halt-crypto-services\/","title":{"rendered":"Coinbase Uncovers FDIC Advising Banks to Halt Crypto Services"},"content":{"rendered":"<p>According to <strong><a href=\"https:\/\/x.com\/iampaulgrewal\/status\/1852433095468667120?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">Paul Grewal<\/a><\/strong>, Coinbase\u2019s chief legal officer, more than 20 cases have been identified in which the FDIC has explicitly told banks to \u201c<em>stop<\/em>\u201d or \u201c<em>refrain<\/em>\u201d from engaging in crypto banking.<\/p>\n<p>This discovery follows Coinbase\u2019s Freedom of Information Act (FOIA) requests aimed at increasing transparency regarding the stance of US banking regulators on <a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/\"><strong>cryptocurrencies<\/strong><\/a>.<\/p>\n<p>In a Nov. 1 post, Grewal argued that these findings reveal an agency that is operating behind a \u201c<em>bureaucratic curtain<\/em>\u201d to restrict financial access to legitimate crypto businesses.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/bitcoin-etf-inflows-pause-as-u-s-election-uncertainty-rises\/\" title=\"Bitcoin ETF Inflows Pause as U.S. Election Uncertainty Rises\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/bitcoin-etf-bitwise-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Bitcoin ETF Inflows Pause as U.S. Election Uncertainty Rises<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Among the 23 documented cases, one particularly detailed document \u2013 called \u201c<em>Document 5<\/em>\u201d \u2013 describes an FDIC meeting in which a bank\u2019s crypto services were scrutinized. The bank provided additional documentation, but the FDIC advised it to stop expanding crypto services until a full review was conducted.<\/p>\n<p>Coinbase continues to advocate for transparency and regulatory fairness as it prepares to work with whichever administration takes office after the upcoming US presidential election.<\/p>\n<p>The revelations reflect ongoing tensions between crypto companies and regulators, highlighting the need for clarity in the evolving financial landscape.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Coinbase recently uncovered evidence that the Federal Deposit Insurance Corporation (FDIC) is advising US banks not to offer cryptocurrency-related services.<\/p>\n","protected":false},"author":9,"featured_media":2584,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[22],"tags":[],"class_list":["post-141230","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Coinbase Uncovers FDIC Advising Banks to Halt Crypto Services<\/title>\n<meta name=\"description\" content=\"Coinbase recently uncovered evidence that the Federal Deposit Insurance Corporation (FDIC) is advising US banks not to offer...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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