Ripple CTO criticizes FDIC's actions against crypto industry

Odaily Planet Daily Report: New documents show that in 2022, the Federal Deposit Insurance Corporation (FDIC) of the United States advised banks to temporarily suspend activities related to , citing unresolved regulatory risks. Coinbase's investigation into these actions found more than 20 cases where the FDIC prevented financial institutions from providing services to the industry. Regarding the FDIC's stance, Ripple's Chief Technology Officer, David Schwartz, expressed his concerns on social media. He questioned the logic behind the enforcement actions in an uncertain regulatory environment. "How can you possibly justify enforcement actions when the government can't even figure out what the legal requirements are?" Schwartz wrote on , highlighting the confusion surrounding regulatory transparency in the field. (CoinEdition)