2 years ago
Acting Federal Deposit Insurance Corporation (FDIC) Chair Martin Gruenberg named evaluating crypto risks arsenic 1 of the agency’s apical priorities for 2022 successful a statement issued Monday.
Gruenberg became acting seat of the FDIC connected Feb. 5 pursuing the resignation of Jelena McWilliams, who had held the station since 2018. Gruenberg had served arsenic an FDIC committee subordinate since mid-2018; anterior to that, helium was the FDIC’s president for a five-year word starting successful 2012.
“The accelerated instauration of a assortment of crypto-asset oregon integer plus products into the fiscal strategy could airs important information and soundness and fiscal strategy risks,” Gruenberg wrote. He noted that it’s “imperative” that national banking agencies see the risks posed by these products, and find however good banking organizations tin safely prosecute successful handling them.
“To the grade specified activities tin beryllium conducted successful a harmless and dependable manner, the agencies volition request to supply robust guidance to the banking manufacture connected the absorption of prudential and user extortion risks raised by crypto-asset activities,” helium concluded.
Other priorities for 2022 included strengthening the Community Reinvestment Act (CRA), addressing fiscal risks posed by clime change, reviewing the slope merger process and finalizing the Basel III Capital Rule.
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Nelson Wang is CoinDesk's quality exertion for the East Coast. He holds BTC and ETH supra CoinDesk's disclosure threshold of $1,000.
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