The US central bank (Fed) and two US regulators on Tuesday warned the US banking industry about the risks associated with activities in the field of cryptocurrencies, almost two months after the collapse of the giant FTX, reports AFP.

The Fed, the Federal Deposit Insurance Corporation (FDIC) and the OCC, which oversees two-thirds of the banking system, said in a joint statement that for commercial banks, cryptocurrency activities “are likely inconsistent with safe and sound banking practices.” American.

Therefore, “given the significant risks highlighted by the recent bankruptcies of several major cryptocurrency firms, the agencies continue to be cautious and cautious about each banking entity’s current or anticipated cryptocurrency activities and exposures,” they added.

The Fed, FDIC, and OCC believe that “it is important that risks associated with the crypto-asset industry that cannot be mitigated or controlled do not migrate into the banking system.”

However, banks still have the right to provide their customers with services related to these assets.

In mid-November, US Treasury Secretary Janet Yellen strongly called for “more effective oversight” of the cryptocurrency market immediately after the collapse of the FTX trading platform. Several Fed officials have also called for regulation of the sector.

In addition, the Biden administration is still considering whether to create a cryptocurrency that has many benefits and opportunities, but also risks.

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