The announcement on Thursday afternoon comes after the IMF last month approved a $45B loan facility for Argentina that stipulated the country would discourage the use of cryptocurrencies.
The European Banking Authority said it will start work this year to map out crypto activities and spot new financial risks.
The traditional financial system is a tool that can be used both against fellow citizens and despicable enemies.
A wave of sanctions hitting Russia highlights the complex web of connections that make up contemporary global society – and its ultimate fragility.
Martin Gruenberg said agencies like the FDIC need to provide “robust guidance” to the banking industry on how to manage the risks to consumers posed by crypto assets.
The banking regulator plans to issue a new consultative document in 2022.
“I think we’re living on a sand castle financial system,” says former banker and fraud investigator Jared Bibler.
How can an online “barter for money” bring digital social justice to historically underserved populations?
Iceland’s surreal banking bubble led to one of the biggest blowups of the 2008 financial crisis. The story holds important lessons – including a possible scenario for Tether’s collapse.
So-called pass-through coverage would insure the holders of these tokens against losses up to $250,000 if the bank holding the collateral were to fail.