The Federal Deposit Insurance Corporation has denied it will require Signature Bank buyers to cancel their crypto-related activities.
The FDIC came out.respond toReuters report On Wednesday, it said, “Buyers of Signature Bank will have to agree to liquidate all crypto business at the bank,” citing two anonymous sources. A spokesperson for the FDIC recently denied this.
An FDIC spokesperson said in an email: “The receivership will not end until all of the Bank’s assets have been sold and all claims against the Bank have been determined. And the buyer will decide the terms of the auction.”
“Buyers will tell the FDIC what assets and liabilities from failed banks they are willing to accept,” the spokesman said, referring to two joint statements released by the FDIC, the Office of the Comptroller of the Currency and the Federal Reserve. which one of themindicate that the bank “Not banned or prevented” from providing services to any sector
The FDIC is bidding on Signature and Silicon Valley Bank, another bank seized by state regulators last week. This could be possible by the end of this week.
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