The US Government Accountability Office (GAO) says US regulators, including the Federal Deposit Insurance Corporation (FDIC), do not have an ongoing coordination mechanism to address risks tied to blockchain activity. In its recommendations, the GAO calls for improved coordination among regulators responsible for monitoring and overseeing crypto and blockchain-related financial risks.
The call for better coordination comes as oversight of stablecoins expands and as legislation and regulatory frameworks continue to develop for blockchain-based products. Media reports note that the GENIUS Act is part of the broader shift toward expanding stablecoin oversight, while financial products using blockchain technology continue to grow in use.
While the GAO focuses on gaps in coordination, the reports do not describe specific new rules proposed by the FDIC. Instead, they highlight the need for regulators to work together more consistently to manage blockchain-related risks as the market and regulatory landscape evolve.
