{"id":83108,"date":"2023-08-15T19:15:47","date_gmt":"2023-08-15T16:15:47","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=83108"},"modified":"2025-09-12T09:11:08","modified_gmt":"2025-09-12T06:11:08","slug":"fdic-sees-risks-to-the-banking-system-from-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/fdic-sees-risks-to-the-banking-system-from-cryptocurrencies\/","title":{"rendered":"FDIC sees risks to the banking system from cryptocurrencies"},"content":{"rendered":"<p>Activities related to crypto assets may present new and complex risks to the U.S. banking system that are difficult to fully assess. This finding appears in the <a href=\\\"https:\/\/www.fdic.gov\/analysis\/risk-review\/2023-risk-review\/2023-risk-review-full.pdf\\\">annual risk review<\/a> <span data-descr=\\\"Federal Deposit Insurance Corporation\\\" class=\\\"old_tooltip\\\">FDIC<\/span>.<\/p>\n<p>The agency noted the dynamic nature and rapid pace of innovation in the digital asset space.<\/p>\n<p>The FDIC noted growing institutional interest in crypto-related activity, which warranted close scrutiny.<\/p>\n<p>In particular, officials cited threats of fraud, legal ambiguities, misleading or inaccurate statements\/disclosures, as well as imperfect risk-management practices and platform vulnerabilities.<\/p>\n<p>Analysts also pointed to contagion risks for institutions through their links to the crypto-asset sector.<\/p>\n<p>The review notes the potential for deposit outflows from banks holding stablecoin collateral.<\/p>\n<p>Alongside other financial regulators, the agency recommended further monitoring measures and guidance to address the risks mentioned.<\/p>\n<p>In February 2022, the FDIC&#8217;s acting chairman, Martin Gruenberg, said that digital assets and the assessment of related threats<a href=\"https:\/\/forklog.com\/en\/news\/fdic-sees-risks-to-the-financial-system-in-adopting-cryptocurrencies\"> became a priority for the agency in its 2022 work plan<\/a>.<\/p>\n<p>One year later, the <span data-descr=\\\"Federal Reserve System\\\" class=\\\"old_tooltip\\\">\u0424\u0420\u0421<\/span>, FDIC and <span data-descr=\\\"Office of the Comptroller of the Currency within the U.S. Department of the Treasury\\\" class=\\\"old_tooltip\\\">OCC<\/span> reminded U.S. lenders of the <a href=\"https:\/\/forklog.com\/en\/news\/fed-warns-banks-of-liquidity-risks-tied-to-crypto-firms\">potential risks<\/a> emanating from crypto-focused firms.<\/p>\n<p>Earlier, the agency accused<a href=\"https:\/\/forklog.com\/en\/news\/fdic-accuses-ftx-us-of-misleading-customers\"> FTX.US<\/a>,<a href=\"https:\/\/forklog.com\/en\/news\/fdic-probes-voyager-digital\"> Voyager Digital<\/a> and<a href=\"https:\/\/forklog.com\/en\/news\/fdic-accuses-okcoin-of-misleading-customers-about-deposit-insurance\"> OKCoin<\/a> of misleading customers.<\/p>\n<p>In May 2023, the FDIC<a href=\"https:\/\/forklog.com\/en\/news\/fdic-cites-cryptocurrencies-as-a-factor-in-signature-banks-collapse\"> called<\/a> cryptocurrencies one of the causes<a href=\"https:\/\/forklog.com\/en\/news\/us-rescue-saves-svb-and-signature-bank-depositors-stablecoins-narrow-the-depegging\"> of the Signature Bank collapse<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto-asset related activity may present new and complex risks to the U.S. banking system that are difficult to fully assess. This conclusion is contained in the FDIC&#8217;s annual risk review.<\/p>\n","protected":false},"author":1,"featured_media":83109,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1269,1725,36],"class_list":["post-83108","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrencies","tag-fdic","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83108","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=83108"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83108\/revisions"}],"predecessor-version":[{"id":83110,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83108\/revisions\/83110"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/83109"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=83108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=83108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=83108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}