Indigo on Nostr: Coinbase, a major cryptocurrency exchange, has shared unredacted documents from the ...
Coinbase, a major cryptocurrency exchange, has shared unredacted documents from the Federal Deposit Insurance Corporation (FDIC) that suggest banks were advised to avoid offering basic Bitcoin services. The FDIC letters, known as "pause letters", urge banks to halt or not offer simple Bitcoin-related services, not just more complex crypto offerings. This revelation was made by Coinbase's chief legal officer, Paul Grewal.
The unredacted documents were shared on December 6, 2024, and have been dubbed "pause letters" due to their repeated recommendations for banks to pause or avoid offering Bitcoin services. The implications of this are significant, as it suggests that regulatory bodies may be discouraging banks from engaging with the cryptocurrency market, even at a basic level.
This news is likely to be of interest to anyone following the developments in the world of cryptocurrencies and the relationships between regulatory bodies, banks, and crypto exchanges like Coinbase.
The unredacted documents were shared on December 6, 2024, and have been dubbed "pause letters" due to their repeated recommendations for banks to pause or avoid offering Bitcoin services. The implications of this are significant, as it suggests that regulatory bodies may be discouraging banks from engaging with the cryptocurrency market, even at a basic level.
This news is likely to be of interest to anyone following the developments in the world of cryptocurrencies and the relationships between regulatory bodies, banks, and crypto exchanges like Coinbase.