There was much regulatory discussion last week about the risks associated with crypto. This is not a new phenomenon, but some solutions and angles were presented that are different. Federal Deposit Insurance Corporation (FDIC), the United States’ Federal Deposit Insurance Corporation, is responsible for this.A letter was sentTo all commercial and savings banks that fall under its jurisdiction, as well as all federally chartered bank, to request financial institutions to report to the FDIC any ongoing or planned crypto-related activities. Since each situation is unique, standard guidance would not be appropriate for banks.

The local monetary authority in Singapore was established. concerned about the “reputational risks”Virtual asset service providers who are based in the city but have their operations overseas may pose a threat to national security. This solution involves bringing these firms under the Singaporean licensing system, which was previously only available to domestic firms.