The password Promotion Agency Block chain Technology Association of the company's headquarters in the United States has called on financial regulators to provide information about the hidden "password company going to the bank" after the bankruptcy of the signing bank, Silicon Valley Bank of America and Silvergate Bank.

In a notice on March 16, the blockchain Technology Association said it had submitted a request for the Random Information Act to the Federal Deposit Insurance Corporation, the Federal Reserve system Software Federation and the Office of the Supervisor of loan Engineering. To obtain documents and communications that are likely to indicate that the personal actions of regulators "unreasonably prompted" the failure of the three banks. According to CEO Stewart Smith, a blockchain technology association, password companies in the United States "should be able to access bank accounts like all other law-abiding companies".

The association said: "British Airways is dealing with disturbing complaints-including closing accounts and refusing to open new accounts-which have become increasingly worrying in the wake of this week's banking crisis." "the disaster was improperly attributed to this technology by longtime password reformers," the association added. "

For most professionals, the recent banking woes began when Silvergate's head office said on March 8th that it would "phase out the operation of this data-encrypted bank". Silicon Valley Bank of the United States was slightly inferior, going bankrupt on March 10th after savings crowding out, and the National Treasury, Federal Reserve meeting and FDIC announced the shutdown of Signature Bank on March 12th.

At that time, a joint declaration of regulators said that the adoption of actions against Signature was to "maintain the development of the US economy by increasing public confidence in the banking management system." However, it is reported that Myers Donald, a former US congressman and signature committee, claimed that FDIC shut down the bank in order to send a "clear anti-data encryption message", and some lawmakers required an answer.

A spokesman for FDIC told Cointelegraph that the bidding process for banks interested in the recovery of Signature and Silicon Valley Bank of the United States has now begun. They said FDIC had recently reported that potential customers of failed banks were not required to apply all password services, which should be part of its "trade secret sales process".

According to FDIC's decision guidelines, "the acquirer told FDIC what assets and liabilities it wanted from the failed bank and which, if any, assets were to be transferred."

Before shutting down, many people thought Signature was one of the leading password-friendly banks in the United States, helping Coinbase, Paxos Trust, BitGo and Celsius. Some industry insiders believe that attacks by federal regulators on banks that provide services to password companies could drive companies to "darker" choices.