Separating “risks that can’t be controlled” from the banking sector.
‘The agencies have significant safety and soundness concerns with business models that are concentrated in crypto-asset-related activities.’Three federal financial agencieswarning banks about the “key risks for banks associated with crypto-assets and the crypto-asset sector.
The agencies also stress that “risks related to the crypto-asset sector that cannot be mitigated or controlled do not migrate to the banking system.”announced a “policy sprint initiative” The Tuesday statement, meanwhile, mainly focuses on the potential risk that comes with crypto. Some of the risks it says “banking organizations should be aware of” are:“Legal uncertainties related to custody practices, redemptions, and ownership rights”
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