US Federal Reserve Drops ‘Reputational Risk’ Requirements for Banks, Ending Era of Crypto Debanking

Description

The US Federal Reserve announced that it will no longer use ‘reputation risk’ to assess banks, ending a practice closely connected to the ‘war on crypto’ and debanking . Reputation risk was used to pressure US banks to reject crypto startups from receiving banking services such as business loans. The status quo has changed in Washington, giving banks the autonomy to make their risk assessments. The Federal Reserve announced that they were combing through their documentation to replace the term ‘...