Blockchain Association files further FOIA requests over banking closures
The Blockchain Association has escalated its transparency efforts by submitting additional Freedom of Information Act requests to federal regulators. These inquiries aim to uncover the true reasons behind the recent closures of crypto-friendly banks like Signature and Silvergate, challenging narratives that attribute these failures solely to insolvency. A central focus is determining whether regulatory decisions were driven by political motivations against cryptocurrency rather than sound financial oversight. By investigating potential anti-crypto bias in banking supervision, the association seeks to hold authorities accountable for actions that may unfairly target the digital asset sector during a period of market instability. This initiative is highly relevant to open_data as it underscores the critical role of transparency in democratic governance and financial regulation. Advocating for public access to governmental records, this case highlights how open data mechanisms empower stakeholders to scrutinize regulatory decisions, ensuring that policy implementation remains objective and free from hidden ideological agendas.
Source: cointelegraph.comPublished on 2023-04-18