Representative Tom Emmer has questioned Martin Gruenberg on whether the FDIC instructed banks not to provide services to crypto firms.
Highlights
- Tom Emmer, the majority whip of the U.S.
- House of Representatives, has reiterated concerns that the federal government is “weaponizing” concerns around the banking industry to go after crypto.
- Emmer called on FDIC chair Martin Gruenberg to answer questions as to whether the FDIC has instructed banks not to provide services to crypto firms.
- The Minnesota representative made similar claims prior to the collapse of Silicon Valley Bank and Signature Bank, speculating the government could “easily weaponize” a central bank digital currency as a surveillance tool.
- For many in the space, the recent banking crisis began with Silvergate’s parent company announcing on March 8 that it would �wind down operations for the crypto bank.
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