• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Trump Linked Firm Trims Stake in Major Crypto Venture, Big Sell-Off Ahead?
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Trump Linked Firm Trims Stake in Major Crypto Venture, Big Sell-Off Ahead?
FDIC

FDIC Wants All US Banks To Report Crypto-Related Activities, Citing ‘Safety Hazards’

Christian Encila
by Christian Encila
3 years ago
·
Posted in Bitcoin News, Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The Federal Deposit Insurance Corp. is advising banks to contact it if they are currently engaged in or intend to engage in cryptocurrency-related activities.

The FDIC notes that exposure to crypto assets may pose “safety and soundness hazards, as well as financial stability problems.”

The FDIC, the country’s top banking regulator, said lenders considering dabbling in digital assets should alert the agency of their intentions, and institutions already engaged in such activities should notify the FDIC “promptly.”

Suggested Reading | Peter Thiel Calls ‘Enemy No. 1′ Warren Buffett A ‘Sociopathic Grandpa’ During Bitcoin 2022 Miami

FDIC Wants Full Transparency

The FDIC’s guidance letter follows similar directives from the Office of the Comptroller of the Currency, which directed banks in November to seek permission from their local OCC supervisory office before offering custody services or participating in other crypto-related operations.

Both sets of instructions underscored the hazards associated with bitcoin, particularly as banks increasingly participate in digital asset trading.

The OCC modified its Trump-era guidance in November to underline that banks must obtain approval before dealing with cryptocurrency-related operations on behalf of their clients, dramatically tightening the agency’s position toward the burgeoning virtual currency sector.

The memo recommends institutions to “show their ability to perform crypto-related activities safely and securely.”

Crypto total market cap at $1.94 trillion on the daily chart | Source: TradingView.com

Evaluating Safety And Soundness

The majority of the letter is devoted to describing the institutions’ risk considerations, which are divided into three categories: financial stability, safety and soundness, and consumer protection.

Todd Phillips, the Center for American Progress’s head of financial regulation and corporate governance, stated:

“As of now, the authorities are emphasizing that they will not prohibit banks from engaging in crypto-related operations… they simply want to be informed in advance so they can assess and understand whether the activities have repercussions for the bank’s safety and soundness.”

Suggested Reading | Zuck What? Meta Is Reportedly Planning To Create A Digital Token Nicknamed After Its CEO

Warning On Systemic Risks

Under Acting Chair Martin Gruenberg’s leadership, the FDIC has issued warnings about the potential for systemic risk from the “rapid entry of… digital asset products into the financial system.”

Gruenberg noted in February that the banking regulator and other relevant organizations are tasked with providing “strong guidance” to the banking industry on how to manage the dangers posed by cryptocurrency.

Additionally, the FDIC request comes as American financial regulators grapple with the growing popularity of cryptocurrencies.

United States President Joe Biden directed government agencies to evaluate the dangers and benefits of various cryptocurrency issues last month, a move widely interpreted as a harsh admission of the potential implications of digital assets’ growing prominence.

Featured image from Medium, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Christian Encila

Christian Encila

Follow

Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

Full Profile

Related Posts

Crypto

Record US Crypto Seizure: $225 Million Claimed From Major Global Scam

Just now
Bitcoin news

30% Of Bitcoin Could Be ‘Ancient’ By 2035, Fidelity Projects

1 hour ago
Best Altcoins to 100x as Trump Praises GENIUS Stablecoin Bill as 'American Brilliance

GENIUS Unleashed: Trump’s Push Ignites Crypto Markets. What Are the Best Altcoins That Could Rally 100x

1 hour ago
Explosion of BTC Treasury Adoption Since 2020: How to Prepare for the Bitcoin Mainstream

Explosion of BTC Treasury Adoption Since 2020: How to Prepare for the Bitcoin Mainstream

2 hours ago
ChatGPT Bullish on $XRP and $SHIB – But Snorter Token Emerges as the Next Big Trading Bot

ChatGPT Bullish on $XRP and $SHIB – But Snorter Token Emerges as the Next Big Trading Bot

3 hours ago
Over $904M in Bitcoin Profits Pressure the Market – BTC Bull Token is a Safe Bet

Over $904M in Bitcoin Profits Pressure the Market – BTC Bull Token is a Safe Bet

3 hours ago
Please login to join discussion

Premium Sponsors

Press Releases

  • BingX New Dual Investment Offering Sees $1M in User...

    38 minutes ago
  • FUNToken Announces Deflationary Update, Achieves Certik...

    57 minutes ago
  • Crypto wealth never sleeps! ETHRANSACTION cloud mining...

    60 minutes ago
  • Solana holders earn $6,580 a day through cloud mining as...

    1 hour ago
  • Bitcoin price falls below $104,000, but investors keep...

    2 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.