“Joint Statement on Crypto-Asset Risks to Banking Organizations” Will Significantly Impact Cryptocurrency Companies and Their Banking Relationships
By Grant F. Butler, Andrew M. Hinkes, Jeremy McLaughlin, Judie Rinearson
The US Board of Governors of the Federal Reserve System (FRB), Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation (FDIC) (the “Agencies”) today issued a joint statement reiterating their ongoing concerns with crypto-asset activities entering the banking sector. See: https://www.federalreserve.gov/newsevents/pressreleases/files/bcreg20230103a1.pdf
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