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A comment on U.S. FDIC tells Signature crypto clients to close accounts by April 5. Parent comment

Re:U.S. FDIC tells Signature crypto clients to close account... by hanniabu on Tuesday March 28, 2023 @11:44PM (#35352153)
You act like this is a conspiracy but operation choke point is a real thing and the government lost a court case that their tactics were unconstitutional.

The goal is to do as much damage to crypto due to the risk against the dollar and prior to the FedNow rollout. If the bank gets hurt in the process then that's cool b/c it teaches other banks not to do business with crypto.

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Re:U.S. FDIC tells Signature crypto clients to close account... by JumpCrisscross on Wednesday March 29, 2023 @12:01AM (#35352309)
> operation choke point is a real thing and the government lost a court case that their tactics were unconstitutional

Regulators scrutinizing banks who deal with "high-risk" customers while not defining what risk means ex ante is absolutely a problem. This is not that. It's, first, an entire bank being turned off, not specific accounts. And second, a regional bank with a long-running specialty choosing to buy accounts that gel with that specialty.

The fact that a retired ranking Senator is blabbing to the papers versus filing a lawsuit should say enough with respect to his conviction in his claims.

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