Senators call on banking regulators to investigate banks' ties to crypto companies

12/08 19:44

US Senator Elizabeth Warren, Democrat of Massachusetts, and Senator Tina Smith, Democrat of Minnesota, sent a letter to Federal Reserve Chairman Jerome Powell, Acting FDIC Chairman Martin Gruenberg and Acting OCC Comptroller Michael Hsu calling on bank regulators to examine the relationship between banks and crypto companies. The letter states that while the banking system has so far not been affected by the latest cryptocurrency crash, the collapse of FTX suggests that cryptocurrencies may be more integrated into the banking system than regulators realise. elizabeth Warren, Tina Smith asked the regulators to respond by 21 December 2022.
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