FDIC Supervising US Banks Requests Reporting of Cryptocurrency Activities

The Federal Deposit Insurance Corporation (FDIC), which regulates banks in the United States, requires banks to notify if they engage in activities related to cryptocurrencies.

The Federal Deposit Insurance Corporation made a request for cryptocurrencies in a letter sent to financial institutions on Thursday.

In line with this demand, banks under the supervision of the FDIC in an activity related to cryptocurrencies If they are found, report this to the FDIC director for their region. transmissions is requested.

Since nearly all major banks in the US are under FDIC control, Bank of America and Goldman Sachs Many banks, including giants such as cryptocurrencies, will have to report their steps towards cryptocurrencies to the FDIC.

According to the information in the letter from the Federal Deposit Insurance Agency, the FDIC will review the information about banks’ crypto activities after collecting information, ask additional questions if necessary, and then send a letter to the banks. will give feedback.

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