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<ul class="news-points"> 
 <li><strong>Crypto-asset sector’s volatility in 2022 exposes vulnerabilities.</strong></li> 
 <li><strong>FDIC’s 2023 Risk Review highlights novel and complex risks in crypto-assets.</strong></li> 
 <li><strong>Risks include fraud, legal issues, operational vulnerabilities, and contagion.</strong></li> 
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<p>The crypto-asset sector witnessed substantial market volatility throughout 2022 that revealed several vulnerabilities within the industry. Even so, its remarkable growth saw numerous banks express interest in engaging in crypto-asset activities.</p> 
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   <p lang="en" dir="ltr">What are the emerging risks facing the banking system? Today, we published our 2023 Risk Review which takes a comprehensive look at key developments and risks facing banks, including a new section focused on crypto-asset risk. Read more <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/27a1.png" alt="➡" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/Ri442S9ERo" target="_blank" rel="noopener noreferrer nofollow">https://t.co/Ri442S9ERo</a>. <a href="https://t.co/5bY2VHuDof" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/5bY2VHuDof</a></p>— FDIC (@FDICgov) <a href="https://twitter.com/FDICgov/status/1691095028054274048?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 14, 2023</a> 
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<p>While crypto-assets have gained traction, the recently released annual <a href="https://www.fdic.gov/analysis/risk-review/2023-risk-review/2023-risk-review-full.pdf" target="_blank" rel="noopener noreferrer nofollow">Risk Review</a> by the Federal Deposit Insurance Corporation (FDIC) underscores that the allure of these assets comes hand-in-hand with a web of intricate risks. Moreso, the complex and evolving nature of the industry makes assessing the risks challenging. As the report states:</p> 
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 <p>Crypto-asset-related activi…</p> 
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<p>The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/crypto-assets-present-novel-and-complex-risks-fdic-2023-risk-review/">Crypto-Assets Present Novel and Complex Risks: FDIC 2023 Risk Review</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.</p>

Crypto-Assets Present Novel and Complex Risks: FDIC 2023 Risk Review

Coin Edition

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