FDIC Vice Chairperson Calls on Banking Regulators to Issue New Digital Asset Guidelines

In a recent public speech, Federal Deposit Insurance Corporation (FDIC) Vice Chairperson Travis Hill criticized the FDIC's stance on digital assets and called on banking regulators to issue new digital asset guidelines.
Hill, who was appointed to the board by Republicans two years ago, criticised the FDIC's role in pressuring banks to abandon crypto customers. "The FDIC's long-term goal is to reduce the number of unbanked people," he said. "Depriving law-abiding customers of banking services is unacceptable and regulators must work to stop it. Anyone who explicitly or covertly forces banks to stop serving law-abiding customers has no place at the FDIC."
Martin Gruenberg, the current chairperson of the FDIC, has informed agency staff that he will resign on January 19, the day before Mr. Trump's inauguration. In the chairperson's absence, Travis Hill, the vice chairperson, will assume the chairpersonship on an interim basis.