• News
    • Bitcoin
    • Altcoins
  • NFT
  • Metaverse
  • Analysis
  • Regulation
  • Learn
  • Market Cap
What's Hot

Meta Unveils Next-Gen AI Tools and Digital Companions for the Metaverse

2023-09-28

What Is Toncoin (TON)? Everything You Need To Know

2023-09-28

Valentino Rossi Steps into The Sandbox with ValeVerse

2023-09-27
Facebook Twitter Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
Facebook TikTok Instagram YouTube
CryptoNewsMetaverse
  • News
    • Bitcoin
    • Altcoins
  • NFT

    U.S. IRS Considers Taxing NFTs Like Other Collectibles

    2023-03-21

    Meta Shuts Down NFT Project to Focus on FinTech and Content

    2023-03-14

    Solana’s Solend V2 Release, Is SOL Price $50 Next?

    2023-03-06

    Amazon NFT Marketplace To Reportedly Launch Next Month

    2023-03-06

    Blur Coin Under Fire As Allegations Of Wash Trading Emerge

    2023-03-01
  • Metaverse

    Meta Unveils Next-Gen AI Tools and Digital Companions for the Metaverse

    2023-09-28

    Valentino Rossi Steps into The Sandbox with ValeVerse

    2023-09-27

    Opportunities for Artists and Creators at Decentraland Music Festival 2023

    2023-09-26

    Hitachi Leverages Metaverse and VR for Next-Generation Workforce Training

    2023-09-25

    Upland and KABOOM! Unite to Address Playspace Inequity

    2023-09-22
  • Analysis

    DOJ Officially Seizes Over $456,000,000 Worth of Robinhood Shares Tied to FTX Founder Sam Bankman-Fried

    2023-01-08

    Mark Cuban Makes Prediction on Next Crypto ‘Scandal,’ Warns of Potential Implosion if Exposed: Report

    2023-01-08

    Binance Listings Cause Crypto Assets To Spike an Average of 41%: New Research

    2023-01-08

    Bitcoin Whales Unloaded BTC As Market Reversed and Parked Their Profits in This Crypto Asset Class: Santiment

    2023-01-07

    Crypto Analyst Predicts Breakout for AI-Focused Altcoin, Updates Outlook on Ethereum and Lido DAO

    2023-01-07
  • Regulation

    Ripple files motion to block SEC appeal attempt

    2023-09-04

    JP Morgan believes SEC will be forced to approve ETFs after losing case against Grayscale

    2023-09-03

    Ripple Files Motion To Oppose SEC Appeal Over Landmark XRP Ruling

    2023-09-03

    U.S. SEC Punts on Bitcoin (BTC) Spot Exchange-Traded Fund Approvals, Delays Decisions Until October

    2023-09-02

    Navigating the significance of legal opinions in the crypto sphere

    2023-09-02
  • Learn

    What Is Toncoin (TON)? Everything You Need To Know

    2023-09-28

    What is NBA Top Shot? A Beginner’s Guide

    2023-09-22

    What Are Bridges in Crypto? Cross-Chain Bridges, Explained – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    2023-09-21

    SingularityNET (AGIX) Price Prediction 2023 2024 2025

    2023-09-18

    What Are Altcoins? Best Altcoins to Buy  – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    2023-09-08
  • Market Cap
CryptoNewsMetaverse
Home»Regulation»Top US Regulators Warn American Banks To Keep an Eye on Crypto-Related Risks
Top US Regulators Warn American Banks To Keep an Eye on Crypto-Related Risks
Regulation

Top US Regulators Warn American Banks To Keep an Eye on Crypto-Related Risks

2023-01-05No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

The U.S. Office of the Comptroller of the Currency (OCC) is issuing a joint statement with the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) urging US banks to be more cautious of risks related to crypto.

The statement comes two months following the collapse of the crypto exchange FTX, which left many investors unable to withdraw their funds.

The digital asset Terra (LUNA) and crypto companies Three Arrows Capital (3AC) and Celsius Network also saw their demise in 2022.

“The events of the past year have been marked by significant volatility and the exposure of vulnerabilities in the crypto-asset sector. These events highlight a number of key risks associated with crypto-assets and crypto-asset sector participants that banking organizations should be aware of.”

As the collapse of large crypto companies underscores the significant risks in the industry, the agencies say that they will continue to carefully and cautiously approach current and proposed crypto-related activities and exposures of banks.

“It is important that risks related to the crypto-asset sector that cannot be mitigated or controlled do not migrate to the banking system.”

The Fed, OCC and the FDIC also say they have significant safety and soundness concerns with crypto-focused business models and those with concentrated exposure to the new asset class.

“Based on the agencies’ current understanding and experience to date, the agencies believe that issuing or holding as principal crypto-assets that are issued, stored, or transferred on an open, public, and/or decentralized network, or similar system is highly likely to be inconsistent with safe and sound banking practices.”

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Featured Image: Shutterstock/Tun_Thanakorn
Generated Image: Midjourney



Source link

American banks Cryptorelated Eye regulators risks Top warn
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

What is NBA Top Shot? A Beginner’s Guide

2023-09-22

Ripple files motion to block SEC appeal attempt

2023-09-04

JP Morgan believes SEC will be forced to approve ETFs after losing case against Grayscale

2023-09-03

Ripple Files Motion To Oppose SEC Appeal Over Landmark XRP Ruling

2023-09-03
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Judge denies SEC’s motion to withhold key documents in Ripple case

2022-07-14

Goldman Sachs Ranks Bitcoin As World Best Performing Asset

2023-01-25

FTX bankruptcy lawyer: debtors face ‘assault by Twitter’ stemming from Sam Bankman-Fried

2023-01-21

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, NFT, Metaverse and more.

We're social. Connect with us:

Facebook Instagram YouTube TikTok
Top Insights

Meta Unveils Next-Gen AI Tools and Digital Companions for the Metaverse

2023-09-28

What Is Toncoin (TON)? Everything You Need To Know

2023-09-28

Valentino Rossi Steps into The Sandbox with ValeVerse

2023-09-27
Get Informed

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
© 2023 Cryptonewsmetaverse.com. Designed by ProdigitalX.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$26,899.00-0.56%
  • ethereumEthereum(ETH)$1,668.180.74%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.000.04%
  • binancecoinBNB(BNB)$215.610.31%
  • rippleXRP(XRP)$0.545.57%
  • usd-coinUSDC(USDC)$1.000.02%
  • Lido Staked EtherLido Staked Ether(STETH)$1,666.810.66%
  • dogecoinDogecoin(DOGE)$0.0620761.12%
  • cardanoCardano(ADA)$0.2491300.00%