US Bank Watchdogs Issue Joint Warning on Crypto Activities
- Fed, FDIC and OCC say that past year has underscored risks
- Top regulators to keep ‘careful and cautious approach’
The Marriner S. Eccles Federal Reserve building in Washington, DC.
Photographer: Al Drago/BloombergThis article is for subscribers only.
The top US bank regulators issued a fresh warning to lenders about the risks associated with delving into crypto.
The Federal Reserve, Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency on Tuesday detailed concerns with the volatile asset class. Officials said in a statement that it was important that risks that can’t be controlled aren’t allowed to migrate to the banking system.