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Jan, 2023

Warnings from US Regulators to Banks for Cryptos

The “stakeholders” of financial institutions have taken up the guns regarding banking compliance regarding their crypto activities.


FDIC (Federal Deposit Insurance Corporation) along with other insitutions stated that there would be much more monitoring regarding crypto activities, among large banking institutions.


The token issuance is also an activity that could become much stricter as it can’t comply with good banking practices from the previous systems.


The biggest problem, according to the institutions, are that the risks embedded to crypto investments cannot be mitigated with traditional counter-measures or cannot be integrated in any bank’s risk management system.


Every day we can see another consequence from FTX’s collapse in the crypto world.