US watchdog urges FDIC and other regulators to coordinate on blockchain oversight

The US Government Accountability Office has urged the Federal Deposit Insurance Corporation and other US regulators to improve coordination on blockchain oversight. In its review, the watchdog said the agencies currently lack an “ongoing coordination mechanism for addressing blockchain risks.”

The finding matters because blockchain and crypto activity can intersect with banking, payments, and broader financial supervision. A more coordinated approach could help regulators respond more consistently to risks tied to the technology and to firms operating across multiple oversight regimes.

For crypto companies and financial institutions working with blockchain systems, the absence of a formal coordination mechanism can create uncertainty about how different agencies may interpret or apply oversight expectations. That can make compliance planning more complex, especially for businesses that operate in both the digital asset and traditional finance sectors.

The GAO’s comments add to ongoing scrutiny of how US authorities manage crypto-related supervision. The report does not itself change policy, but it points to a structural gap that regulators may need to address as blockchain use cases continue to expand.

The core takeaway is that US oversight of blockchain risks remains fragmented, according to the watchdog. The GAO is calling attention to the need for more consistent interagency coordination.