According to the Washington Post, notoriously risky cryptocurrency firms may be integrated into the traditional banking system under a little-noticed provision in a new bill that raises alarms among financial experts.
- When was the bill introduced and what will it allow?
- What has happened to the digital asset market since early May?
- What are the long-term issues surrounding bank reserves invested in cryptocurrencies?
Newmyer, T. (2022) Bill to grant crypto firms access to Federal Reserve alarms experts. The Washington Post, July 3 (Retrievable online at https://www.washingtonpost.com/business/2022/07/03/crypto-banks-risk-lummis/)