FDIC Needs Heads-Up From Banks Concerned In Cryptocurrency
NiloyApril 07, 2022
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By Elise Hansen (April 7, 2022, 3:37 PM EDT) — Monetary establishments supervised by the Federal Deposit Insurance coverage Corp. ought to notify the company in the event that they plan to have interaction in cryptocurrency-related actions, the FDIC stated in a discover Thursday.
Any establishments already engaged with digital property ought to “promptly” notify the FDIC and ideally the related state regulators, the discover stated. Establishments ought to embrace detailed descriptions of their actions, so the FDIC can assess the related dangers, the discover stated.
The FDIC cited uncertainties round monetary stability and client safety, amongst different considerations.
“The FDIC will evaluate the notification and data acquired, request further info as wanted, and contemplate the protection and soundness,…
