As U.S. senators prepared to gather for a hearing about U.S. debanking of crypto clients, the interim chief of the Federal Deposit Insurance Corp. said his agency is overhauling its digital assets supervision and revealed more correspondence on Wednesday in which FDIC officials steered banks away from cryptocurrency business.

Travis Hill, the acting FDIC chairman tapped by President Donald Trump, has thrown open more of the agency’s past documents and said the U.S. banking regulator will be reconsidering its previous crypto guidance that deliberately kept banks an arm’s length away from what had been seen as the unregulated volatility of crypto. The past letters between the FDIC and bank have been the focus of a court Freedom of Information Act battle between Coinbase and the agency, in which the courts had directed the regulator to share more information.

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Author: Jesse Hamilton

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