FDIC writes to banks on risks associated with crypto activities
The Federal Deposit Insurance Corporation (FDIC) of the United States has written to the banks it regulates, expressing worry about the risks associated with crypto activities and how it affects consumer protection. “Crypto-related activities may pose major safety and soundness hazards, as well as concerns about financial stability and consumer protection.” Furthermore, because crypto-related activities […]
FDIC sets to hire Anchorage crypto custodian to manage assets of failed banks
The FDIC is now on the verge of employing a cryptocurrency custodian to assist it to store and sell digital assets like crypto when a bank fails. According to sources familiar with the matter, the federal government is planning to hire Anchorage, a San Francisco-based firm, to assist it in storing and selling any Bitcoin […]