Fed warned banks about liquidity risks due to cryptocurrency
The federal system warned national banks about liquidity risks caused by increased liquidity of digital currencies. At the same time, the agency recommended a number of effective methods to combat potential costs. In the statement itself, the regulator considered two types of risks.
The first of them is associated with deposits placed by an entity that is associated with crypto assets. The second risk is directly related to the stemloins. Economists emphasized that deposits nominated in digital assets will be subject to unpredictable market volatility.
It was noted that periods of stress can affect the stability of deposits when bidders act impulsively. Meanwhile, the United States is steadily moving towards tightening supervision of the digital asset segment.
The US Securities and Exchange Commission recently proposed ratification of legislative changes that will govern the asset storage scheme by corporations in different sectors.
According to experts, in the future this will lead to the fact that the same profile exchanges will be forced to follow more stringent rules. This also applies to the confirmation of financial reserves, which should be carried out by independent auditors.
Earlier, Crypto.ru informed: RBS Crypto Labs CEO Seville Baer said that a ban on BUSD stem protein emissions would have a detrimental effect on the Binance exchange, which is considered the largest in the segment. Image damage will permanently affect the mood of market participants and the cash flow, which was significant. In turn, the head of the company, Chanpan Zhao, reassured investors, noting that the exchange is developing a strategy that will eliminate the consequences of such a decision by regulators.
