FDIC included evaluating cryptocurrency risks on 2022 priorities list
According to the regulator, the rapid integration of digital assets into the existing financial system can create risks to its security
08.02.2022 - 13:10
437
1 min
0
What’s new? The Federal Deposit Insurance Corporation (FDIC) has included an assessment of crypto-asset risks on its list of priorities for this year. Acting Chairman Martin Gruenberg announced the regulator’s priorities for 2022, noting that each of them will require close collaboration among the federal banking agencies.
Press release on the FDIC website
What does the document say? Among the priorities are strengthening the Community Reinvestment Act, addressing financial risks associated with climate change, reviewing the bank mergers, and finalizing the Basel III capital rule in addition to assessing cryptocurrency risks. According to the FDIC, the rapid integration of digital assets into the existing financial system can pose significant risks to its security and sustainability.
What had happened before? Last October, the previous FDIC Chair Jelena McWilliams stated that the agency is focused on creating clear guidelines for the intersection of cryptocurrencies and banking. She noted the collaboration among the US banking regulators, the FDIC, the Office of the Comptroller of the Currency (OCC), and the Federal Reserve System.
Useful material?
Technologies
Network fees will be integrated into the cost of swaps
Nov 22, 2024
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024