FDIC's Annual Risk Report Embraces Crypto as a Significant Banking Concern

Crypto assets present "novel and complex risks" to the banking sector that are "difficult to fully assess," according to the Federal Deposit Insurance Corporation (FDIC)'s 2023 Risk Review for the banking sector. The report - published earlier this month - named "crypto-asset risk" among five categories of risk banks are faced with today. The others include credit risk, market risk, operational risk, and climate-related financial risk....