US News Fed warns banks of risks in crypto transactions

03:50  17 august  2022
03:50  17 august  2022 Source:   sueddeutsche.de

A Fed official pleads in favor of a high increase in rates to bring inflation to 2%

 A Fed official pleads in favor of a high increase in rates to bring inflation to 2% supplied by Tribune Michelle Bowman, a governor of the Fed, speaking before the association of bankers Americans in San Diego, in June 2019. An official of the American Central Bank (Fed) pleaded on Saturday so that the institution continues to highly raise its guiding rates until inflation really decreases. The Fed increased its rates by 0.75 points at the end of July, a much higher increase than the usual quarter.

Many financial companies want to get involved in crypto systems, but the US Federal Reserve Fed calls for caution. The newly emerging business area offers opportunities, but can recover risks regarding consumer protection and financial market stability, warned the Fed.

Kryptogeschäfte bergen laut Fed Risiken. © Ina Fassbender/dpa crypto transactions are risks according to Fed.

banks would have to check in advance whether any crypto transactions are legal and the financial supervisors will inform about their plans in advance.

Video: Inflation rate decreased slightly in July, but ... (dpa afx)

cryptocurrencies such as Bitcoin or ether have increasingly developed from a niche phenomenon to fixed sizes on the financial market in recent years. Banks also want to make a profit in the digital speculation frenzy. But the courses fluctuate violently, as the youngest crash once again showed. Small investors always suffer strong losses. Supervisory authorities such as the FED are therefore under pressure to close regulatory gaps at the cryptom market.

China once again lowers its rates to relaunch the economic machine .
supplied by Tribune The country has faced in recent weeks with an epidemic rebound, limited in terms of cases but which affects many provinces and blocks a real rebound in the activity. Tens of thousands of tourists are notably confined to the Tropical Island of Hainan (South) (photo), a very popular destination in China during this time of the year.

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