There is a slight downward correction in the cryptocurrency market in the United States. Accordingly, legislators continue to integrate the cryptocurrency sphere into the banking system actively.
The Federal Deposit Insurance Corporation may influence the banking system and banks to prevent them from further providing services to cryptocurrency companies. It was stated yesterday by Senator Pat Toomey (Republican from Pennsylvania).
In a letter addressed to Martin Gruenberg, the acting director of the FDIC, Toomey wrote that he had heard that the federal banking regulator was trying to convince banks to refuse to do business with cryptocurrency-related companies. However, they are not prohibited by law from doing so. Toomey asked the regulator to confirm whether any FDIC official influenced banks for them to refuse to do business with cryptocurrency companies and firms and, if so, explain why.
Toomey referred to the initiative of the FDIC and the Ministry of Justice. The purpose was to put pressure on banks so that they no longer provide services and do not lend to cryptocurrency companies, referring to the fact that many are engaged in fraud in the finance field and participate in financial fraud. "According to whistleblowers, employees of the FDIC headquarters in Washington, DC, are calling on the FDIC regional offices to send letters to several banks asking them to refrain from developing relations with companies related to cryptocurrencies, without any legal grounds for this," Toomey said. "As far as I understand, in one or more of these cases, banks planned to provide customers with access to the cryptocurrency company's trading platform through the bank's mobile application or an Internet banking application, but apparently, someone is not satisfied with this state of affairs."
However, a statement issued by the FDIC says: "The FDIC acts in accordance with long-standing legal authority to ensure that banks involved in cryptocurrency-related activities do so in a safe and reliable way that protects consumers. It can also be expressed in an FDIC request to the institution to delay the start or refrain from expanding cryptography-related activities until supervisory information is considered. Given the obvious risks in the crypto asset markets, there is every reason to take appropriate action."
The regulator issued statements before instructing banks to be careful when dealing with crypto companies.
Recently, US Senators Elizabeth Warren (Massachusetts), Bernie Sanders (Florida), Richard Durbin (Illinois), and Sheldon Whitehouse (Florida) appealed to the Office of Currency Control with a request to carefully consider the issue that allows banks to engage in cryptocurrency activities. They explain that the key players of financial systems are becoming involved in a dangerous game related to cryptocurrencies.
As for the technical prospects of bitcoin, the bulls suffered a slight defeat after the next update of the $ 24,500 level, which raises several questions about the further bullish trend. In the event of a decline in the trading instrument, speculators will certainly defend the nearest support of $23,840, just below the $ 23,000 area, where bulls will act more aggressively. In the event of a breakthrough in this area, the $ 22,720 level will play an equally significant role. Its breakdown will send the trading instrument back to the lows of $ 22,180 and $ 21,430, and it will be close to $ 20,700. If the demand for bitcoin returns, it is necessary to break above the resistance of $ 24,660 to build an upward trend. Fixing at $ 24,660 will open up a real prospect of returning to the highs of $ 25,700 and $ 26,700.
Ether buyers have run into another major resistance of $ 1,900 and are ready to achieve its breakdown in the near future. It will be possible to talk about the continuation of the bullish scenario after fixing above $ 1,900, which will open a direct road to $ 2,019 and $ 2,146. The $ 2,296 area will act as a further target. When the pressure on the trading instrument returns, buyers will likely show themselves around $ 1,824, but larger supports are now being viewed in the areas of $ 1,743 and $ 1,651.
