US government watchdog urges FDIC coordinate on crypto oversight

The US Government Accountability Office reports that regulators, including the FDIC, currently lack an ongoing coordination mechanism to address blockchain risks. This deficiency in coordinated crypto oversight among US regulators creates a risk of inconsistent enforcement. Such gaps complicate compliance requirements for financial institutions operating within the sector. Consequently, the watchdog urges the FDIC to improve its coordination efforts to ensure a more stable and consistent regulatory environment for the evolving crypto landscape.