"We determined that the FDIC has started to develop and implement strategies that address the risks posed by crypto assets. However, the Agency has not assessed the significance and potential impact of the risks," the report said.
The Federal Deposit Insurance Corporation, tasked with supervising financial institutions, needs to do more work to assess risks in the cryptocurrency industry, according to a new report.
The Inspector General's report said the FDIC had not yet finished a risk assessment to figure out whether the agency "can sufficiently address crypto-asset related risks through actions such as issuing guidance to supervised institutions."
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