Fed Recommends Banks Avoid Crypto – As A Possible U.S. ‘CBDC’ Is Weighed

Daily Wire: Regulators advised banks and other financial institutions to avoid cryptocurrencies, a warning that comes after the implosion of digital asset company FTX and deliberations over a possible central bank digital currency in the United States. A joint statement from the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency said that the nascent sector is characterized by “significant volatility” and possible fraud, warning executives of scams, legal uncertainties, and contagion between firms rocked by recent

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