Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 13105
Markets: 101189
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
13105
Cryptocurrencies
60.37%
Bitcoin Share
crypto.news 2025-03-06 18:53:03

New GOP bill targets crypto ‘debanking’ by limiting regulator oversight

New GOP bill targets crypto ‘debanking’ by limiting regulator oversight

Senator Tim Scott of South Carolina, the leading Republican on the Senate Banking Committee, has introduced the Financial Integrity and Regulation Management Act. This legislation aims to prohibit financial regulators from considering reputational risks when supervising banks, a practice critics argue has led to the debanking of cryptocurrency companies, according to the Wall Street Journal. The term “debanking” refers to financial institutions denying services to certain businesses or individuals, often due to perceived risks to their reputation. In the crypto sector, companies have reported difficulties securing and maintaining banking relationships, attributing these challenges to banks’ concerns over regulatory scrutiny and potential reputational harm. This has raised alarms about the broader implications for innovation and financial inclusion within the digital asset space .​ Senator Scott’s bill seeks to eliminate the consideration of reputational risk from regulatory assessments, thereby preventing regulators from influencing banks’ decisions to engage with legally operating businesses, including those in the cryptocurrency industry. The legislation has garnered support from 11 other Republican senators, per the Wall Street Journal, reflecting a concerted effort to address perceived biases against certain sectors. You might also like: Sam Altman’s World Network debuts crypto-enabled chat feature Crypto debanking The issue of debanking has been a focal point in recent legislative discussions. In early February, the Senate Banking Committee examined instances where cryptocurrency firms faced challenges in maintaining banking services. Supporters of the bill argue that removing reputational risk from regulatory considerations will promote fairness and prevent undue discrimination against lawful businesses. However, some industry observers caution that eliminating reputational risk considerations could limit banks’ ability to manage potential threats to their public image and customer trust. They argue that reputational risk is a legitimate concern that can impact a bank’s financial stability and should not be entirely disregarded in regulatory assessments. You might also like: Crypto.com joins CF Benchmarks, enhancing Bitcoin and Ethereum indices

Most Read News



Cryptohopper
Market Cap
24h Vol
60.37%
Bitcoin Share
704
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.