US FDIC Vice Chairman Advocates for Open Approach to Virtual Assets

According to The Block, a cryptocurrency-focused media outlet, on the 10th (local time), Travis Hill, Vice Chairman of the US Federal Deposit Insurance Corporation (FDIC), stated that a more open approach to virtual assets is necessary. He emphasized the need for more guidance regarding virtual assets, stating, "There needs to be clarity on how banks should handle virtual assets." This statement came amidst the release of a letter from the FDIC requesting financial institutions to halt activities related to virtual assets. Meanwhile, Travis Hill is set to be appointed as Acting Chairman of the FDIC, with the current Chairman, Martin Gruenberg, resigning on January 19th (local time), a day before Trump's inauguration.