FDIC Makes Crypto Evaluation a Priority This Year Citing ‘Significant Safety and Financial System Risks’
The U.S. Federal Deposit Insurance Corporation (FDIC) has named the evaluation of crypto assets a priority this year. “The rapid introduction of a variety of crypto-asset or digital asset products into the financial system could pose significant safety and soundness and financial system risks,” the FDIC said. Crypto Evaluation Named a Priority for FDIC The U.S. Federal Deposit Insurance Corporation (FDIC) announced Monday that Acting Chairman Martin J. Gruenberg has released the FDIC’s priorities for the coming year. The FDIC is an independent agency created by the U.S. Congress to maintain stability and public confidence in the nation’s financial system. One of the priorities is to “evaluate crypto-asset risks,” the announcement details, elaborating: The rapid introduction of a variety of crypto-asset or digital asset products into the financial system could pose significant safety and soundness and financial system risks. “It is imperative that the federal banking agencies c