US Banks Still Wary of Crypto, Caitlin Long Urges Reform
The Most Important Points at a Glance
The Trump administration’s stance on the cryptocurrency industry is once again under scrutiny. Despite an apparent easing of regulatory measures, banks remain hesitant toward crypto companies. Caitlin Long, CEO of Custodia Bank, criticizes the lack of progress in integrating digital assets into the US banking system. The call for reforms, particularly within the Federal Deposit Insurance Corporation (FDIC), is growing louder.
Lack of Progress in Crypto Integration
Caitlin Long spoke critically about the current situation at the ETHDenver conference on February 28. She emphasized that despite a seemingly more crypto-friendly environment, the US government has not taken significant steps to improve banking access for crypto companies. According to Long, banks still perceive digital assets as risky, which hinders the integration of cryptocurrencies into the financial system.
Trump’s Trade Policy Creates Uncertainty
The discussion around cryptocurrencies is taking place against the backdrop of economic uncertainties. Trump’s recent announcement of new tariffs on imports from Canada, Mexico, and the European Union has unsettled financial markets. In this context, Long is calling for a realignment of the FDIC to ensure that technological progress in the banking sector is not further obstructed.
Call for FDIC Reforms
Following Martin Gruenberg’s resignation on January 20, Travis Hill has taken over leadership of the FDIC. However, concerns about previous regulatory actions remain. Gruenberg was accused of deliberately excluding crypto companies from banking services through “Operation Chokepoint 2.0.” While the US Securities and Exchange Commission (SEC) has become more open to cryptocurrencies, Long still sees a need for reforms in the banking sector.
Stable Regulatory Frameworks for Stablecoins Demanded
In addition to banking regulations, Long advocates for clear legislation on stablecoins. She emphasizes the need for strong consumer protection measures, particularly regarding banks’ liquidity reserves. According to Long, US banks currently hold an average of only eight cents in cash for every dollar in deposits – a potential risk to financial stability.
Our Assessment
The ongoing hurdles for crypto companies in the banking sector show that regulatory changes do not automatically lead to better integration. Despite Trump’s pro-crypto rhetoric, structural obstacles remain. The coming months will reveal whether the US government will actually implement reforms or if the crypto industry will continue to face restricted access to banking services.
You should read that too:
| Wagering requirements | 35x bonus |
| 35x free spins winnings | |
| Minimum deposit | €20 |
| Maximum bet | €5 |
| Bonus validity | 30 days to claim |
| 14 days to wager / 7 days for free spins |
- There is no maximum bonus amount.
- 10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
| Wagering requirements | 40x bonus |
| 40x free spins winnings | |
| Minimum deposit | 0.0005 BTC |
| Maximum bet | 0.00004 BTC |
| Bonus validity | 30 days after registration |
| 14 days (1st), 7 days (2nd), 1 day (3rd) |
- To get the bonus, enter the bonus code before the deposit.
- Minimum deposit: 0,07 BCH • 0,4 LTC • 233 DOG • 45 XRP • 0,01 ETH • 20 USDT • 69 ADA • 0,05 BNB • 184 TRX • 20 USDC.
- Maximum bet: 0.007 BCH • 0.0009 ETH • 0.04 LTC • 23 DOGE • 2 USDT • 4 XRP • 18 TRX • 7 ADA • 0.005 BNB • 2 USDC • 2 EUR • 2 USD.
- Free spins are provided in batches of 25 per day.
- Free spins are credited on the Gamebeat slots: Max Miner (1st), Book of Elixir (2nd) and Odin’s Tree (3rd).
| 1st deposit | 120% up to $500 + 100 Free Spins |
| 2nd deposit | 100% up to $300 + 100 Free Spins |
| 3rd deposit | 150% up to $500 + 100 Free Spins |
| 4th deposit | 100% up to $300 + 100 Free Spins |
| Wagering requirements | 35x bonus |
| 60x free spins winnings | |
| Minimum deposit | $10 (1st) |
| $15 (2nd-4th) | |
| Maximum bet | $5 per round |
| Bonus validity | 30 days to claim, 7 days (1st-4th) |
| 7 days for free spins |
- You must complete the registration and verification process, including a valid email or phone number, to qualify for this bonus.
- You must select the desired bonus during the deposit process.
- There is a maximum withdrawal limit of $10 from winnings derived from free spins.
Advertising transparency