Janet Yellen initiated an unscheduled Financial Stability Oversight Council (FSOC) meeting on Friday that’s not open to the public. #Economics #USbanking

https://news.bitcoin.com/treasury-secretary-yellen-holds-unscheduled-meeting-with-top-financial-regulators-amid-turmoil/

"[U.S. officials] will be unable to curtail the current turmoil without longer-lasting and potentially severe repercussions," Moody's analysts said. #Economics #USbanking

https://news.bitcoin.com/moodys-warns-of-potential-financial-disruption-spillover-beyond-us-banking-sector/

US Banking Regulator Calls for Stronger Oversight of Crypto Risks

#USCrypto   #USCryptoMarket  #USbanking  #USmarket
#binanceus

Acting Comptroller Michael Hsu has emphasized the importance of proactive oversight in managing crypto risks. He cited the 2022 crypto market collapse, with a $2 trillion loss, where effective supervision kept banks stable. Hsu emphasized the need for vigilant supervision as digital assets and fintech increasingly integrate with traditional banking, presenting new challenges and risks