US Regulators Warn Banks About Cryptocurrency Liquidity Risks | – #Regulators #Warn #Banks #Cryptocurrency #Liquidity #Risks
WASHINGTON, February 23 (Reuters) – USAThe best of bank regulators have issued a fresh warning to banks to be wary of any liquidity risks from cryptocurrency-related customers, warning that some of their deposits may be volatile.
The Federal Reserve, the Federal Deposit Insurance Corporation and the Comptroller of the Currency issued a joint statement on Thursday that banks should have strong tools to monitor funds placed by entities linked to crypto-assets. Agencies have noted that deposits placed in banks for the benefit of cryptocurrency consumers, as well as stablecoin reserves, may be subject to rapid withdrawal.
Reporting by Pete Schroeder; Edited by Chizu Nomiyama
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2023-02-23 19:15:54
Source – reuters
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