A recent investigation by Congress has revealed that approximately 75% of cryptocurrency firms have encountered difficulties in maintaining banking relationships, a phenomenon known as ‘systematic debanking.’ This issue has come under scrutiny during the Biden administration. The probe aims to understand the underlying reasons for these banking challenges faced by the crypto industry. Meanwhile, in Taiwan, the Financial Supervisory Commission (FSC) has laid out a regulatory framework for banks to issue stablecoins, potentially offering a new avenue for crypto firms to stabilize their operations. Additionally, BlackRock has filed for an ETF rule change that would allow for in-kind Bitcoin redemptions, which could significantly impact how crypto assets are managed within traditional finance. These developments highlight the evolving relationship between cryptocurrencies and regulatory bodies, with statistics showing a clear trend of debanking affecting the industry’s growth and operations.
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
