FDIC Banks Warn About Cryptocurrencies!

Increasing inflation all over the world has affected both traditional financial markets and cryptocurrency affecting the markets.

In this context Bitcoin (BTC) While cryptocurrencies and cryptocurrencies fell sharply, banks, which are indispensable for the traditional financial system, also faced great losses.

The economic uncertainty caused by rising inflation and interest rates, slowing economic growth and geopolitical tensions also affected the US economy.

Indeed, the FDIC’s report revealed that banks suffered huge losses in the second quarter of 2022.

Addressing the losses incurred by banks, the FDIC will crypto- decided to prioritize five key policies, including assessing the risks of currencies on the banking system.

Speaking to the Senate Banking Committee yesterday FDIC vice president Martin J. Gruenberg emphasized that no bank has failed in the past and stated that there was a net decrease in the revenues of banks in the first two quarters of 2022.

Stating that banks will continue to experience a decrease in their income and lose, Gruenberg said that banks cryptocurrency He said that they should be careful in their activities.

“The FDIC recognizes and acknowledges the interest in cryptocurrencies despite the bear market. But banks need to be wary of crypto.

In this context, the FDIC will continue to work with our banks to ensure that the crypto-related activities they conduct are safe and sound, allowable banking activities that can be conducted in accordance with current laws and regulations.”

FDIC vice chairman, who also evaluated the collapse of crypto platforms that hurt investors, “It is a fact that cryptocurrencies are risky. Because after the bankruptcies of crypto platforms this year, many investors have suffered losses and have not been able to access their funds.” said.