US Regulators Warn Banks Over Cryptocurrency Risks 

US regulators have issued their first-ever joint warning to banks over the risks associated with the cryptocurrency market. <br />The watchdogs told financial institutions to be wary of potential fraud, legal uncertainty, and misleading disclosures by digital asset firms. <br />The US Federal Reserve, Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency said they were closely monitoring the crypto activities of banking organizations. <br />The regulators also said that issuing or holding crypto tokens, which are stored on public, decentralised networks was highly likely to be inconsistent with safe and sound banking practices.