Internal Federal Watchdog Says FDIC Lacks Clear Procedures for Addressing Crypto Risk
The Office of the Inspector General released a report stating that the Federal Deposit Insurance Corporation (FDIC) lacks clear procedures for addressing crypto-related risks. The report made two recommendations to update the FDIC's approach to supervising crypto activities at regulated institutions. The lack of clear procedures causes uncertainty for supervised institutions in determining appropriate actions to take.
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Internal Federal Watchdog Says FDIC Lacks Clear Procedures for Addressing Crypto Risk
The Office of the Inspector General released a report stating that the Federal Deposit Insurance Corporation (FDIC) lacks clear procedures for addressing crypto-related risks. The report made two recommendations to update the FDIC's approach to supervising crypto activities at regulated institutions. The lack of clear procedures causes uncertainty for supervised institutions in determining appropriate actions to take.