US lawmaker Tom Emmer suspects the FDIC is 'weaponizing' banking sector instability to target crypto firms, and demands an explanation.
and former U.S. Representative Barney Frank, who reportedly called the FDIC moving against Signature as a “strong anti-crypto message” rather than based on concerns about the bank’s solvency.
“These actions to weaponize recent instability in the banking sector, catalyzed by catastrophic government spending and unprecedented interest rate hikes, are deeply inappropriate and could lead to broader financial instability,” said Emmer. Today, I sent a letter to FDIC Chairman Gruenberg regarding reports that the FDIC is weaponizing recent instability in the banking sector to purge legal crypto activity from the U.S.
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