US regulator warned banks on crypto but did not order halt to business, documents show
By Pete Schroeder and Douglas Gillison
WASHINGTON (Reuters) – A U.S. bank regulator told banks to pause dabbling directly in crypto in 2022 and 2023, but did not order them to stop providing banking services to crypto companies contrary to industry complaints of widespread “debanking,” according to documents released on Friday.
A judge ordered the Federal Deposit Insurance Corporation to provide versions of supervisory “pause letters” it sent to unidentified banks after History Associates Incorporated, a research firm hired by crypto exchange Coinbase, sued the agency to release them.
The FDIC first released the letters in December but was ordered by the judge to resubmit them with more “nuanced redactions.” The new batch of 25…
