Authored by Helen Partz via CoinTelegraph.com,
The FDIC regulators have reportedly required any buyer of Signature to agree to give up all cryptocurrency business at the bank…
The United States Federal Deposit Insurance Corporation (FDIC) has reportedly asked potential rescuers of some failed U.S. banks not to support any crypto services.
The FDIC regulators have asked banks interested in acquiring failed U.S. lenders like Silicon Valley Bank (SVB) and Signature Bank to submit bids by March 17, Reuters reported.
The authority will only accept bids from banks with an existing bank charter, prioritizing traditional lenders over private equity firms, the report notes, citing two sources familiar with the matter. The FDIC aims to sell entire businesses of both SVB and Signature, while offers for parts of the banks could be considered if the whole company sales do not happen.
The FDIC has also required any buyer of Signature to agree to give up all cryptocurrency business at the bank.