FDIC Lacking Clear Crypto Guidance for Banks, Inspector General Finds
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FDIC inspector general found the agency has not equipped banks to navigate crypto expectations.
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Report says FDIC's lack of clear procedures causes uncertainty for banks on appropriate crypto actions.
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FDIC told some banks to pause crypto activities but didn't specify how long or provide guidance.
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FDIC has been suspicious of crypto and leaned toward shielding banks from deep crypto involvement.
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FDIC agreed to create a plan to assess crypto risks to banks and clarify its review process by January.