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Crypto Brings ‘Novel and Complex’ Risks, FDIC’s Gruenberg Says


Oct. 20, 2022, 3:42 PM

Banks must be beware of the risks associated with crypto as they consider getting more involved with the asset class, a top US financial regulator warned on Thursday.

Martin Gruenberg, the acting chairman of the Federal Deposit Insurance Corp., said that banks should carefully manage and control risks stemming from their relationships with crypto companies. Gruenberg, whose agency is charged with protecting consumers in the event of certain types of bank failures, said that the FDIC is working with other banking regulators to provide additional guidance to lenders.

“The risks associated with crypto assets are novel and complex, …



Read More: Crypto Brings ‘Novel and Complex’ Risks, FDIC’s Gruenberg Says

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