The annual risk review report of the FDIC in the United States has for the first time included a separate section on crypto assets

ChainCatcher News, the Federal Deposit Insurance Corporation (FDIC) released its 2023 Annual Bank Risk Assessment Report on the 14th, and for the first time this year, included a separate section on the risks of crypto assets.

The report states that the FDIC has recognized through its normal regulatory processes the growing public interest in activities related to crypto assets, but that these activities may pose new and complex risks to the U.S. banking system that are difficult to fully assess. Some key risks include the uncertainty surrounding the legal status of cryptocurrencies, the potential for fraud, and the contagion and concentration risks that may arise due to the interconnectedness of crypto businesses. Additionally, the sensitivity of stablecoins to runs may expose banks holding stablecoins to the risk of deposit outflows.