Bank executives have said they need further guidance from regulators before dealing more directly with bitcoin and other types of cryptocurrency.
U.S. banking regulators warned financial institutions on Tuesday that dealing with cryptocurrency exposes them to an array of risks, including scams and fraud.
"The events of the past year have been marked by significant volatility and the exposure of vulnerabilities in the crypto-asset sector," the regulators said in a joint statement from the Federal Reserve, Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency.
Ether has hugely outperformed bitcoin since both cryptocurrencies formed a bottom in June 2022. Ether's superior gains have come as investors anticipate a major upgrade to the ethereum blockchain called "the merge."U.S. banking regulators warned financial institutions on Tuesday that dealing with cryptocurrency exposes them to an array of risks, including scams and fraud.
"The events of the past year have been marked by significant volatility and the exposure of vulnerabilities in the crypto-asset sector," the regulators said in a
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