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FDIC signals overhaul of digital asset supervision, senators work on stablecoin legislation

Image of the Capitol building in Washington, D.C., at sunrise.
Photo: Mark Wilson/Getty Images

Interim FDIC chair Travis Hill says the agency is rethinking its stance on crypto.

The interim chief of the Federal Deposit Insurance Corp (FDIC) said his agency is overhauling its digital assets supervision, and the banking regulator has unveiled correspondence in which FDIC officials steered banks away from performing cryptocurrency business.

At roughly the same time, US senators started preparing to gather for a hearing