Odaily Planet Daily News The U.S. Federal Deposit Insurance Corporation (FDIC) stated in its 2023 annual risk review that “crypto-asset-related activities may pose novel and complex risks to the U.S. banking system that are difficult to fully assess,” the report stated. Some key risks include fraud, legal ambiguity, misleading or inaccurate statements or disclosures, immature risk management practices and platform vulnerabilities. The FDIC said interconnectedness within the crypto-asset industry could also create contagion risks for banks with greater exposure. Notably, the review highlighted the possibility that banks holding stablecoin reserves could experience deposit outflows due to the risk of runs on stablecoins. The FDIC joins other bank regulators in recommending further monitoring and guidance to address these crypto asset risks. (theblock)