FED again issues comments on cryptocurrencies

The agency, along with others from the United States, spoke regarding the use of cryptocurrencies within banking systems

The United States Federal Reserve (FED), along with other regulators in the region, issued a statement in which they discussed the risks involved in the use of cryptocurrencies in banking systems.

Others involved include the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC), who made a general call for caution regarding the use of this type of asset.

“Given the significant risks highlighted by the recent bankruptcies of several large crypto asset companies, the agencies continue to take a careful and cautious approach related to cryptocurrency-related activities and exposures and current proposals at each banking organization,” reads part of the statement. .

On the other hand, they talked about the issuance and safeguarding of digital tokens, describing it as an “act inconsistent with safe and sound banking practices“, a representative motto of this industry.

Although this would be the first time that these regulators have ruled on the sector in 2023, the truth is that all of them have expressed their reservations regarding cryptocurrencies on several occasions.

K.Tovar

Source: Diariobitcoin

(Reference image source: rtve, via web)

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