Travis Hill

The vice chairman of the Federal Deposit Insurance Corporation has spoken out against the current practices by the FDIC. Now and in the past years individuals and companies saw their bank accounts closed without any further explanation because of cryptocurrency related activities on the accounts. They were essentially “debanked”.

Hill, who will be the acting chairman as of January 19th says he will change the course radically, and will stand for more financial inclusion of innovation. No more “debanking” without explanation or prior notice. To the contrary, he says that goes against the core principles of the FDIC and financial inclusion.

Important evolution

This change of course by the FDIC is another important step into the acceptance of cryptocurrencies and blockchain in the current banking system. It is placing crypto in the good corner instead of being in the grey zone in which no real rules were established and people got punished but didn’t know why…

Crypto is not only the future, it is also the present!

Sincerely,

Pele23

Posted Using INLEO