The acting president of the Federal Deposit Insurance Bureau, Travis Hill, was appointed by President Donald Trump to resume the role in a more permanent manner, which would breed an official who strongly supported the tendency of invoicing which tormented the cryptographic initiates and their companies.
Hill, a former staff member of the Senate Banking Committee, sought to rethink the previous resistance of the banking regulator to the banking cryptocurrency and opposed any link in matters of FDIC with industry unlocking customers – such as the digital asset sector – that banks can consider the risk.
As with other financial agencies, the administration has not run to fill the vacancies of the Board of Directors to the FDIC, leaving Hill alone among the dedicated administrators, although the heads of the office of the Consulting Controller and the Consumer Financial Protection Office have automatic places on the board of directors of five members. Hill will have to be confirmed by the Senate before he can officially take over the presidency.
The Trump administration was slow to install some of the main leaders of its financial regulators, including those who have the most potential authority on cryptographic issues, such as the Futures Futures Trading Commission. But even temporary management agencies have pushed a Pro-Crypto program while Trump continues to hold industry in favor.
The FDIC was at the center of the banking crisis in the industry, and a campaign of the Freedom of Information Act led by Coinbase revealed a range of letters from the regulator to banks warning them against cryptographic affairs. After Hill’s arrival at the agency, he revealed more of these communications.
In March, Hill’s FDIC reversed a previous policy which forced bankers to obtain the government’s previous approval before participating in new cryptographic activities.
Read more: the White House withdraws
