Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»TRADING NEWS»FDIC Vice Chairman Advocates More Flexible Approach to Digital Assets
TRADING NEWS

FDIC Vice Chairman Advocates More Flexible Approach to Digital Assets

By Crypto FlexsMarch 11, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
FDIC Vice Chairman Advocates More Flexible Approach to Digital Assets
Share
Facebook Twitter LinkedIn Pinterest Email

FDIC Vice Chairman Travis Hill criticized U.S. banks’ restrictions on handling their customers’ digital assets.

On Monday, Hill called for a proactive approach to blockchain technology, indicating that the current regulatory stance stifles innovation.

He emphasized the need for policy clarity on acceptable measures and standards for safety and soundness. Hill, who previously worked as a Republican Senate aide, noted that rapid technological advancements pose challenges to policymaking.

In 2022, top U.S. banking regulators, including the FDIC, the Federal Reserve, and the Office of the Comptroller of the Currency, warned banks about the risks of cryptocurrency trading, highlighting concerns about volatility. The agencies emphasized the importance of preventing uncontrollable risks from affecting the banking system.

Hill criticized the FDIC’s apparent reluctance to work with industry bodies interested in exploring blockchain or distributed ledger technology for purposes beyond cryptocurrencies, such as tokenized deposits.

“The confidential nature of the existing process means there is very little public information about what types of activities the FDIC is open to,” Hill said.

He called for a more precise distinction between cryptocurrency and tokenization, which refers to the digital representation of physical assets, often utilizing blockchain technology.

Hill also mentioned the SEC’s guidance requiring companies to treat cryptocurrency assets as liabilities on their balance sheets. This is different from traditional managerial accounting practices.

The Vice-Chairman shall comply with this guideline, Employee Accounting Bulletin No. 121 argued that rising costs were hindering the bank’s ability to expand digital asset services for its customers. This has sparked criticism in the banking industry since its publication in 2022.

Follow us on Google News

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Elon Musk announces that his “American Party” will accept Bitcoin and criticizes Trump’s financial bill.

July 7, 2025

Bitcoin holders reach $ 1 trillion in paper gains.

July 6, 2025

Six high upside encryption coins of less than $ 20 are seen in 2025.

July 5, 2025
Add A Comment

Comments are closed.

Recent Posts

GUNZ Announces $GUN Token Expansion To Solana

July 7, 2025

NEXST Launches Web3 VR Entertainment Platform With K-Pop Group UNIS As First Global Partner

July 7, 2025

Elon Musk announces that his “American Party” will accept Bitcoin and criticizes Trump’s financial bill.

July 7, 2025

From Wall Street to Wallet: Ark Defai redefines financial architecture.

July 7, 2025

What Every Investor Should Know

July 6, 2025

Protecting Your Portfolio In A Volatile Market

July 6, 2025

A Trader’s Guide To Smarter Moves

July 6, 2025

Crypto Price Prediction Strategies – How Traders Forecast The Market

July 6, 2025

Causes, History, And How To Survive

July 6, 2025

A Guide To High-Risk, High-Reward Strategies

July 6, 2025

Ethereum MVRV has 1.20–1.25 and suggests that Market Peak is not visible.

July 6, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

GUNZ Announces $GUN Token Expansion To Solana

July 7, 2025

NEXST Launches Web3 VR Entertainment Platform With K-Pop Group UNIS As First Global Partner

July 7, 2025

Elon Musk announces that his “American Party” will accept Bitcoin and criticizes Trump’s financial bill.

July 7, 2025
Most Popular

Ripple (XRP) Price Correction: How Long Will the Downtrend Last?

April 10, 2024

NFT Marketplace OpenSea integrates solana into OS2

April 16, 2025

Hyra Network Honored As “Technology Startup Of The Year” At The 2025 Globee® Awards

July 1, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.