U.S. banking regulators warned of cryptocurrency risks

coinmag

Leading U.S. banking regulators have issued a new warning to lenders about cryptocurrency risks.

The Federal Reserve, the Federal Deposit Insurance Corporation and the Office of the Comptroller of http://cryptoainews.space/how-to-buy-crypto-in-webull/ the Currency laid out several concerns about the volatile asset class. Officials said in a statement that it is important that risks that cannot be controlled do not creep into the banking system.

Last year’s events were marked by significant volatility and the discovery of vulnerabilities in the crypto-asset sector, the agencies said.

Federal observers emphasize that the impact of the FTX crash on the financial system as a whole was minimal. Nonetheless, they urge caution about current or perceived crypto-asset-related actions and risks at each banking institution:

It is important that risks associated with the crypto-asset sector that cannot be mitigated or controlled do not enter the banking system.