FDIC Email Exchange on Crypto Activity Review

XXXXX

b8

From: Walker, Patrice
Sent: Thursday, September 22, 2022 4:26 PM
To: XXXXX
Cc: XXXXX
Subject: RE: Legal Referral XXXXX Crypto Activity

Thanks. Nothing else from Legal.

From: XXXXX
Sent: Thursday, September 22, 2022 4:26 PM
To: Walker, Patrice XXXXX@FDIC.gov
Cc: XXXXX
Subject: Re: Legal Referral XXXXX Crypto Activity

WO has reviewed and signed off. Thanks

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From: Walker, Patrice XXXXX@FDIC.gov
Sent: Thursday, September 22, 2022 4:06:54 PM
To: XXXXX
Cc: XXXXX
Subject: RE: Legal Referral XXXXX Crypto Activity

XXXXX

I wanted to make sure the specific crypto activities of XXXXX were reviewed by Washington. I know that in the past, we sent these letters when the bank merely held deposit accounts for entities that participated in crypto-related activities. I couldn’t gather from the proposed letter if those were the same activities proposed by XXXXX when the letter states “crypto-related transactions” that pass through the bank’s deposit accounts. Certainly, if it’s cash generated from those activities being passed through, this would line up with my understanding of the region’s past treatment.

Other than verifying the review of the activities, Legal has no changes to the letter.

Patrice

From: XXXXX
Sent: Thursday, September 22, 2022 8:35 AM
To: Walker, Patrice XXXXX@FDIC.gov
Subject: Fwd: Legal Referral XXXXX Crypto Activity

Good morning. Just an fyi on this letter. It’s a template letter that has previously been vetted so it shouldn’t take long to review. Thanks
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From: XXXXX Sent: Thursday, September 22, 2022 7:48:17 AM To: XXXXX Subject: FW: Legal Referral — XXXXX Crypto Activity

From: RMS ATL Legal Referral XXXXX@FDIC.gov Sent: Wednesday, September 21, 2022 3:05 PM To: XXXXX Cc: Walker, Patrice XXXXX@FDIC.gov; XXXXX; Times, Mark A. XXXXX@FDIC.gov; Rollinson, Bruce XXXXX@FDIC.gov Subject: FW: Legal Referral — XXXXX Crypto Activity

This matter is assigned to XXXXX

RO—Advisory Opinions

From: XXXXX Sent: Tuesday, September 20, 2022 10:16 AM To: RMS ATL Legal Referral XXXXX@FDIC.gov Cc: Rollinson, Bruce XXXXX@FDIC.gov Subject: Legal Referral — XXXXX Crypto Activity

Good morning,

I’ve attached a letter to the Board notifying them that the reported crypto-related activity is outside of the scope of our guidance. Please review the letter for any recommendations or concerns.

Thank you,

XXXXX Case Manager, Division of Risk Management Supervision Federal Deposit Insurance Corporation 10 Tenth Street Northeast, Suite 800 Atlanta, Georgia 30309 Office: XXXXX Cell: XXXXX fdic.gov