Many crypto asset activities pose ‘novel risks’ to banks, says Fed vice chair for supervision

by Aurelia Butler 12 October 2022, 22:40 139 Views

In written remarks prepared for an Oct. 12 speech at D.C. Fintech Week, Barr seemed to encourage banks to explore issuing tokens on distributed ledger networks, but “only in a controlled and limited manner.” The Fed vice chair for supervision suggested financial institutions engage with U.S. regulators to ensure “safe, sound, and legally permissible” activities around use cases of innovative technologies like crypto and stablecoins.

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Source: Cryptocurrency - investing.com

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Many crypto asset activities pose ‘novel risks’ to banks, says Fed vice chair for supervision

Fed fearful of doing ‘too little’ to stamp out soaring US inflation

Fed’s Bowman says more big rate hikes on table if inflation will not cool

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