FDIC Vice Chairman Calls on Bank Regulators to Issue New Digital Asset Guidance

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