BREAKING: Federal Reserve Proposal May End Crypto Debanking, Says Senator Lummis.....
U.S. Senator Cynthia Lummis said a new proposal under consideration at the Federal Reserve could effectively bring an end to what the crypto industry has described as “debanking,” where digital asset firms are denied access to traditional banking services.
According to Lummis, the proposal would promote fair access to the banking system by focusing on risk-based supervision rather than blanket restrictions on crypto-related businesses. She emphasized that lawful crypto companies should not be excluded simply due to their industry, calling the potential shift a major step toward regulatory clarity and financial inclusion.
The remarks have sparked optimism across the crypto sector, which has long argued that debanking stifles innovation and pushes activity offshore.