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Cryptocurrencies Could Threaten the Financial System, Federal Risk Committee Warns


WASHINGTON — Risks associated with cryptocurrencies could grow rapidly and eventually threaten the broader financial system, a panel of senior U.S. officials warned on Monday, calling for stricter supervision of digital assets.

The Financial Stability Oversight Council is chaired by the Minister of the Treasury Janet Yellensaid the crypto industry is still small compared to the overall financial system, but that can change quickly and exacerbating potential systemic risks.

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