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Cryptocurrencies

17 Feb 2022

Fed to Look into Risks Posed by Crypto Markets

The Index Today

Even as the world of cryptocurrencies continues to gain momentum, it does not dismiss the possibility of “emerging risks” that are connected to digital assets.

The U.S. Federal Reserve has issued yet another warning alerting markets to the potential risks associated with crypto after it took up substantial advertising space and time during the Super Bowl.

The Fed’s January meeting minutes, which were released on Wednesday, revealed that “some participants saw emerging risks to financial stability associated with the rapid growth in crypto-assets and decentralized finance platforms. Fed members have also underscored the volatility linked to digital money especially the “sizable declines since late last year.”

According to CoinMarketCap, their value had escalated rapidly over the past decade with the current value of crypto estimated to be about $1.9 trillion.

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