Fed, FDIC, and OCC warn banks over crypto deposits

Risks from crypto firm deposits are correlated, heightened and unpredictable, Fed says

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The Federal Reserve’s board of governors issued a statement warning US banks of liquidity risks caused by crypto assets on February 23.

“Certain sources of funding from crypto asset-related entities may pose heightened liquidity risks to banking organisations due to the unpredictability of the scale and timing of deposit inflows and outflows,” said the Fed. The statement was given jointly with two other US regulators, the Federal Deposit Insurance Corporation and the Office of the Comptroller

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