Rather trying to read between the lines of the FDIC’s recently declassified crypto supervision letters, this note lays some examples where we know supervisory debanking *wasn’t* happening. At the very least, the debanking narrative has to contend with some very public exceptions.
If press releases and headlines are any indications, big banks’ crypto projects marched on throughout the years that supervisors were allegedly choking off all things crypto-related. From 2021-2024, e.g.:
Fed Vice Chair for Supervision Barr today: "In fact, banks supervised by the Federal Reserve provide material and important services to the crypto-industry."
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