Digital assets pose a unique risk to the financial stability of the United States, according to a report released Monday by the Federal Deposit Insurance Corporation (FDIC).

The organization dedicated a whole section to crypto in its annually-published report titled Risk Review. However, the two-page section is comparatively just a footnote compared to 90 other pages that parse topics ranging from higher interest rates to the recent spate of American bank collapses that they influenced.

Still, it’s the first time digital assets have been given their own section, the FDIC said. The organization explained that the callout is warranted given the increasing number of banks that are dipping their toes into the industry.

“The FDIC has been generally aware of the rising interest in crypto,” it said. “As this interest has accelerated, the FDIC determined that more information was needed to better understand the risks associated.”

One of the FDIC’s biggest concerns is the “dynamic nature” of digital assets, which makes their possible impact on the financial system hard to assess. Among opaque areas listed by the FDIC are fraud, legal uncertainties, and “risk management practices exhibiting a lack of maturity.”

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Author: André Beganski

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