The US Government Accountability Office is, once again, telling the FDIC it needs to get its act together on crypto oversight. In a letter dated June 8, 2026, the GAO reminded the federal deposit insurer that a recommendation it made back in July 2023 for formal interagency coordination on blockchain-related risks still hasn’t been fully implemented.
The coordination gap nobody wants to close
The original recommendation came from a July 2023 GAO report, cataloged as GAO-23-105346. Its core finding was straightforward: federal regulators lack an “ongoing coordination mechanism for addressing blockchain risks.” The agencies named in that report read like a who’s-who of US financial regulation: the FDIC, the Federal Reserve, the Office of the Comptroller of the Currency, the SEC, the CFTC, the National Credit Union Administration, and the Consumer Financial Protection Bureau.
As of the GAO’s latest communication, the recommendation remains “open and partially addressed.” The GAO clearly wants a formal joint mechanism, not a patchwork of individual agency actions that might or might not align.
There has been some movement. In July 2025, the FDIC, Federal Reserve, and OCC issued a joint statement on crypto-asset risk management. That’s three out of seven agencies.
