Crypto Companies May Lose Access to 'Service Provider' Domain Names

fTLD Registry Services, a domain name system registry, announced it is looking to restrict the DNS extensions from generic banking "Service providers." The proposal comes amid an alleged uptick in applications for.

Bank domain was reserved for government-regulated retail banks, savings associations, national banks, or bank holding companies.

"More recently, as the financial services arena has evolved, particularly as it relates to fintechs offering financial products/services, we have found that some prospective Registrants were seeking domains to enhance their legitimacy to market to regulated entities and/or consumers."

By reinstating the old restrictions, fLTD is trying to "Further secure these trusted spaces," she said.

Oddly, Diaz also said the registry has never accepted a crypto company's application for a.bank domain name.

The name costs approximately $1,000 to host per year.

Included in this potential freeze are P2P payment providers, money transfer businesses, and microloan providers.

The company hasn't formally enacted the restrictions, and has opened the decision to public comment until August 24.

In July, competing registrar EnCirca, launched an ethereum naming service to provide domain names at.

Bank domain names registered, according to fTLD data.