Agencies have rescinded informal guidance that discouraged crypto banking, eased oversight, and affirmed that banks can serve crypto firms with proper risk controls.
Banks have recently attempted to preempt federal action by meeting with Republican attorneys general and updating policies to explicitly state they don’t discriminate based on political affiliation.
The draft order instructs regulators to eliminate policies that may have led to customer dismissals and directs the Small Business Administration to review the practices of banks guaranteeing agency loans. It also requires regulators to refer potential violations to the attorney general in certain cases.
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