Banks Are Fleeing Crypto. Bitcoin Investors Should Be Worried

Re:Banks Are Fleeing Crypto. Bitcoin Investors Should Be Wor... by 1vuio0pswjnm7 on Tuesday January 10, 2023 @03:43AM (#34322094)

You're a bank. Three of your regulators (a) Board of Governors of the Federal Reserve System (b) Federal Deposit Insurance Corporation (c) Office of the Comptroller of the Currency release a "Joint Statement on Crypto-Asset Risks to Banking Organizations". It contains the following text:

"Based on the agencies current understanding and experience to date, the agencies believe that issuing or holding as principal crypto-assets that are issued, stored, or transferred on an open, public, and/or decentralized network, or similar system is highly likely to be inconsistent with safe and sound banking practices. Further, the agencies have significant safety and soundness concerns with business models that are concentrated in crypto-asset-related activities or have concentrated exposures to the crypto-asset sector."

The Joint Statement is dated January 3, 2023.

So, after this warning, what's your next move.

(This thread is hilarious. The title has now changed twice.)

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Re:Banks Are Fleeing Crypto. Bitcoin Investors Should Be Wor... by givemeethekeys on Tuesday January 10, 2023 @04:40AM (#34322429)

Rake in the $$ at the risk of paying a small fine?

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Re:Banks Are Fleeing Crypto. Bitcoin Investors Should Be Wor... by kybernetikos on Tuesday January 10, 2023 @08:38AM (#34324662)

I was about to thank you for an interesting hypothetical, but then I did a quick search.

Here's the link for anyone else who was wondering. https://www.federalreserve.gov/newsevents/pressreleases/file...

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