US regulators warn banks of cryptocurrency risks

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US regulators have warned banks about the dangers associated with the cryptocurrency market. Financial institutions have been told by watchdogs to be particularly mindful of fraud and misleading disclosures, among other issues linked to the crypto industry. A joint statement from the US Federal Reserve, Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency read: “The events of the past year have been marked by significant volatility and the exposure of vulnerabilities in the crypto-asset sector.” Banks have also been encouraged to do what they can to stop the …

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