The U.S. Government Accountability Office (GAO) has urged the Federal Deposit Insurance Corporation (FDIC) to coordinate more closely with other federal regulators on blockchain risks.
Summary
- GAO said regulators still lack a standing process for coordinated oversight of blockchain financial risks.
- FDIC faces fresh pressure as GENIUS Act rules expand its role over stablecoin issuers nationally.
- The watchdog also urged case manager rotation after 2023 bank failures raised supervision questions again.
The watchdog made its June 8 letter to FDIC Chairman Travis Hill public on June 15.
Meanwhile, the GAO said blockchain-related financial products and services have…
