‘The Fed Is Still the Blocker’: Nic Carter

The U.S. Federal Reserve was blowing more than a little hot air when it announced last week that it was withdrawing anti-crypto staff guidance that made it more difficult for banks to interact with crypto. In an interview with CNBC today, May 1, Castle Island Ventures founding partner Nic Carter said that the Fed has yet to truly give the green light to banks to be able to work with crypto firms. In what appeared to be a positive gesture to the crypto industry, the Fed announced in a press release on April 24 that it was withdrawing a supervisory letter that ordered banks to give advance notice of their intent to engage in crypto-asset activities. As that supervisory letter has acted as a de facto order not to engage in crypto-related activities, it was one of the main engines driving Operation Choke Point 2.0 — what is broadly seen as a covert, coordinated campaign against crypto companies in the U.S., via regulatory actions and policy. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io