On this episode, we're taking a look at recent crypto crackdowns and bans. These crackdowns aren't necessarily creating clear regulatory guidelines so much as wrecking sentiment havoc on an already troubled crypto market. The Federal Deposit Insurance Corporation (FDIC), one of the two federal agencies insuring savings in American depository institutions, may be asking banks to refrain from providing services or extending credit to cryptocurrency companies. Meanwhile in Canada, Ontario-based crypto traders on Newton and other Canadian crypto platforms will be subject to an annual 30,000 CAD “net buy limit” on all cryptocurrency coins excluding Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), and Litecoin (LTC).
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