FDIC acting chair says no crypto firms or tokens are backed by agency

by Aurelia Butler 15 November 2022, 21:20 189 Views

In a Nov. 15 hearing of the Senate Banking Committee on the oversight of financial regulators, New Jersey Senator Bob Menendez said lawmakers needed to “take a serious look at crypto exchanges and lending platforms” over risky behavior. Gruenberg responded to Menendez’s questions confirming there were “no cryptocurrency firms backed by the FDIC” and “FDIC insurance does not cover cryptocurrency of any kind.”

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Source: Cryptocurrency - investing.com

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FDIC acting chair says no crypto firms or tokens are backed by agency

Foreign Trade Competition Has Hurt Black and Disadvantaged Workers Most, Report Says

Household debt soars at fastest pace in 15 years as credit card use surges, Fed report says

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