Crypto companies were offered to ban …

Crypto companies were offered to ban certain domain names

Cryptocurrency companies may be banned from using domain names in certain zones.

The fTLD Registry Services has launched an initiative to restrict the access of multifunctional banking service providers to domains in .bank and .insurance zones.

According to fTLD, .bank domains are in high demand among companies in the cryptocurrency space. They were originally reserved for regulated retail banks, savings associations, national banks and bank holdings..

“Recently, as the financial services space has evolved, especially in the context of fintech products and services (eg, peer-to-peer payment providers, cryptocurrency companies), we have begun to find that some potential registrars are trying to get domains in order to increase their own legitimacy in the market before regulated entities. and / or clients, ”said fTLD Chief Compliance Officer Heather Diaz.

Crypto companies were offered to ban ...

In an effort to restore previously in force restrictions, fLTD intends to “further secure these trusted zones.” At the same time, Diaz said that her company had never received applications from representatives of the cryptocurrency industry to register a domain in the .bank zone..

Among other things, the ban is proposed to be extended to companies in the field of money transfers and suppliers of microloans. fTLD has not yet formally formalized its initiative and is collecting public comments until August 24.

Crypto companies were offered to ban ...

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