President-elect Donald Trump's transition team is considering reforms to the US banking regulatory framework in response to industry concerns about cryptocurrency risks. The proposal includes potentially consolidating or eliminating key agencies like the FDIC and OCC. Trump's advisors have discussed abolishing the FDIC and restructuring federal bank regulators to streamline oversight. However, these changes would require congressional approval and may face resistance from lawmakers and industry stakeholders. Bank executives are optimistic about potential deregulation under the new administration, hoping for relief from strict regulations. The crypto industry is monitoring developments closely, especially regarding concerns over government efforts to de-bank crypto businesses. Trump's appointment of a 'Crypto Czar' signals a potential shift towards a more supportive approach to digital assets. Recent revelations of FDIC communications advising banks to limit crypto-related services have sparked controversy and legal scrutiny. As the Trump administration prepares to take office, analysts anticipate changes in regulatory policies with hopes for transparency and financial stability. Read more AI-generated news on: https://app.chaingpt.org/news