Inspector General Wants FDIC to Refine Crypto Risk Assessment Process and Guidelines
THE bank deposit insurer should assess THE sufficiency of It is risk mitigation measures And SO provide them In A more organized manner, THE inspector general found.
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THE Inspector General Desk (BIG) of THE Federal Deposit Insurance Company (FDIC), THE independent United States government body that provides deposit insurance has commercial And savings banks, has published A assessment report on THE Company crypto active risk strategy. A redacted version of THE report has has been released has THE public.
THE FDIC adopted A "down up" approach has crypto risk In early 2022, THE BIG said. That approach consists of understanding supervised institutions cryptography related activities, provide case by case monitoring back And "provide wider industry advice on A interagency base. »
HAS to understand institutions crypto activities, THE FDIC issued A letter ask them about he. As of January 2023, 96 establishments had reported their interest In Or provided current activities with crypto assets. THE number of establishments that received back Since THE FDIC was blackened out. A few had has been informed has break cryptography related activity until THE FDIC had do It is assessment, but that number was Also covered upwards.
Related: Signature Bank failed has to understand risks partner with crypto — FDIC ch...
THE bank deposit insurer should assess THE sufficiency of It is risk mitigation measures And SO provide them In A more organized manner, THE inspector general found.
News
Join
We
on
social
networks
THE Inspector General Desk (BIG) of THE Federal Deposit Insurance Company (FDIC), THE independent United States government body that provides deposit insurance has commercial And savings banks, has published A assessment report on THE Company crypto active risk strategy. A redacted version of THE report has has been released has THE public.
THE FDIC adopted A "down up" approach has crypto risk In early 2022, THE BIG said. That approach consists of understanding supervised institutions cryptography related activities, provide case by case monitoring back And "provide wider industry advice on A interagency base. »
HAS to understand institutions crypto activities, THE FDIC issued A letter ask them about he. As of January 2023, 96 establishments had reported their interest In Or provided current activities with crypto assets. THE number of establishments that received back Since THE FDIC was blackened out. A few had has been informed has break cryptography related activity until THE FDIC had do It is assessment, but that number was Also covered upwards.
Related: Signature Bank failed has to understand risks partner with crypto — FDIC ch...
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