In a joint statement issued Thursday, the Federal Reserve, Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency said banks should have robust tools in place to monitor funds placed by crypto-asset related entities. The agencies noted deposits placed with banks for the benefit of crypto consumers, as well as stablecoin reserves, could be subject to rapid outflows.
(Reporting by Pete Schroeder; Editing by Chizu Nomiyama)
