Fed warns banks on crypto exposures
Regulators cite “lack of maturity and robustness” in crypto firms’ risk management
The Federal Reserve and other US regulators have warned banks over their dealings with crypto asset firms, saying the crypto sector lacks “maturity” and poses risks that could spill over to other sectors.
Regulators issued a joint statement on January 3 clarifying their supervisory expectations of banks with exposures to crypto. The agencies said banks are not currently prohibited from providing such services, but regulators are considering “whether or how” crypto activity can comply with
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