Home » Technology » Signature Bank Buyers Have To Give Up All Crypto Businesses, Says FDIC

Under the premise of the instability of the US banking industry, it is reported that the Federal Deposit Insurance Corporation (FDIC) has made a decision to resist the encryption industry. According to a reportreportThe report, released Wednesday night, shows that potential customers of the encrypted and friendly signing bank can now submit prices, but there is a key criterion.

According to the source, customers of the signing bank must submit their bids by March 17 and be sure to abandon all password business processes in the bank. This has caused dissent in the password world, mainly because US regulators are keen to refresh the area.

Another Crackdwin officer in "Crypto"?

Signature Bank is one of the rare American banks to extend its services to the field of passwords.Shut down by state regulatorsOn Sunday. Although regulators claim that this measure has nothing to do with targeting encryption, the community has always adhered to the objective fact that it is indeed aThe scheme is unstable in the use of passwords..

Extended reading: regulators shut down the "scandal" behind encrypted signature banks

Signature Bank has 1/4 of its savings in password corporate accounts, and the bank provides financial information services for password companies, especially when it comes to payments such as CpuSignet,USDC Issuer Circle that use Signet to deal with transactions outside office hours.

The bank was recently shut down by US regulatorsHas explored the hidden lax supervision.This may have led to money laundering. In February of this year, regulators filed a class action lawsuit against Signature Bank, claiming that the bank understood and made it easier for FTX to settle the fraud.

These moves by US regulators have made the cryptographic community more convinced that they have realized that regulators have never been on the side of encryption and have been resisting it.

Many professionals now suspect that the shutdown of Signature Bank and two password-friendly banks, Silvergate and Silicon Valley Bank of America, was used to disarm the password business process from the banking system of the past.

According to US Congressman Tom Emmer in a letter sent to the Federal Deposit Insurance Corporation, the US federal government has weaponized the recent instability.Banks will attack the password.. Myers Donald, a member of the iconic bank supervisory board and a former democratic congressman, stressed that regulators' recent actions revolve around anti-encryption motives.

DonaldInform CNBCThe signatory bank has a capital adequacy ratio, and regulators have spread "relatively strong anti-encrypted information content". However, the New York City Financial Services Center (NYDFS)NegationThe decision to shut down Signature Bank was mainly due to "public opinion pressure" on the bank's leadership.

In any case, encryption will continue to move

Although US regulators have taken action to sell Signature Bank and prevent customers from providing continuous help to password companies, a spokesman for Coinbase said this will stop Signature's Signet platform from browsing password companies.Inform Fortune magazines and periodicalsIn any case, that password will move on.

The spokesman stressed: "as you saw over the weekend, the password is elastic, and we are going to digest it and move on as we do in other processes." They further added that there would be "other participants to fill the gap".

In addition, in the banking predicament, the password sales market is once again rational.BTC (BTC)And other alternative currencies are still emerald green after falling back slightly this morning. So far, the world's total password market capitalization is still above $100 million, down only 0.7% in the past 24 hours.

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