The Federal Deposit Insurance Corporation denies requiring Signature's buyer to divest its crypto business

ChainCatcher News, the Federal Deposit Insurance Corporation (FDIC) has denied Reuters' report that it will require buyers of Signature Bank to divest its cryptocurrency business.

According to reports, yesterday Reuters cited sources stating that the FDIC has asked banks interested in acquiring Silicon Valley Bank and Signature Bank to submit bids by March 17. Sources said the FDIC has hired investment bank Piper Sandler Companies for the auction, and only bidders holding existing bank licenses will be allowed to review the bank's financial condition before submitting bids, and any buyer of Signature must agree to divest all of the bank's cryptocurrency business. (CoinDesk)