“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.The U.S. Federal Deposit Insurance Corporation announced Monday that Acting Chairman Martin J. Gruenberg has released the FDIC’s priorities for the coming year.
“It is imperative that the federal banking agencies carefully consider the risks posed by these products and determine the extent to which banking organizations can safely engage in crypto-asset-related activities,” the agency stressed. In May last year, the FDIC issued a Request for Information on crypto assets. The agency explained that it is gathering information and soliciting comments from interested parties “about insured depository institutions’ current and potential digital asset activities.”
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