Crypto Executives Testify on Debanking

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crypto bank

CNBC

•

Business

Business & Economics

Crypto and Trump gang up on FDIC over debanking: 'Our story is pretty ridiculous'

Summary

Nutrition label

80% Informative

After years of regulatory challenges, crypto execs now have allies across Washington , D.C. "Debanking" is a term used to pressure banks into severing ties with crypto.

Industry leaders call it " Operation Choke Point 2.0 ," an alleged coordinated effort by regulators during the Biden presidency.

President Donald Trump has coopted the agenda for political gain.

FDIC records show banks were being pressured to avoid crypto clients even in absence of clear laws.

House committee is investigating claims that bank executives and regulators secretly blacklisted crypto firms.

Silvergate Bank and Signature Bank were the leading FDIC -insured banks for crypto-asset businesses.

VR Score

Informative language

Neutral language

Article tone

formal

Language

English