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.
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.