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06/16 08:06Bullish

US government watchdog urges FDIC coordinate on cr

US government watchdog urges FDIC coordinate on crypto oversightThe US Government Accountability Office has urged the Federal Deposit Insurance Corporation to make an effort to coordinate with other federal agencies to address risks from blockchain technology. GAO made a June 8 letter to FDIC Chairman Travis Hill public on Monday, which said that it first flagged priority recommendations with the regulator in May last year, including addressing blockchain technology risks.It said that blockchain technology was an area of concern that it put on its “High Risk List,” as it deems that regulators have struggled to oversee blockchain-based financial products and the risks they could pose to US markets. Under the GENIUS Act passed last year, the FDIC is the main regulator for stablecoin issuers that are subsidiaries of the banks it supervises. Senate lawmakers are currently looking to pass a bill that would outline how federal agencies would regulate the wider crypto market. #World Cup Predictions: 100,000 USDT Daily #BTC Prophet: 20-Day 380 Million HTX Challenge #HTXCommunity4thAnniversary
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