Bloomberg Law
March 16, 2023, 1:00 PM

Prominent Crypto Trade Group Digging Into De-Banking Allegations

Allyson Versprille
Allyson Versprille
Bloomberg News

The Blockchain Association, a prominent crypto trade group that boasts members such as Circle Internet Financial LLC and Kraken, said that it’s digging into allegations that digital-asset firms are being booted from the US banking system.

That includes instances of banks supposedly closing existing accounts or refusing to open new ones. It also covers actions by regulators “that may have improperly contributed to the failures of Signature, Silicon Valley Bank, and Silvergate,” the association said in a statement Thursday.

Banking regulators have recently issued statements warning lenders of the risks of engaging in certain crypto-related activities or doing business ...

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