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At a Financial Stability Oversight Council meeting on June 11, 2021, Federal Reserve Board Vice Chair for Supervision Randal K. Quarles encouraged the move toward the Secured Overnight Financing Rate and warned banks that the use of USD LIBOR quotes available after December 2021 for new products would create safety-and-soundness risks.

The SEC Office of Investor Education and Advocacy and the CFTC Office of Customer Education and Outreach cautioned investors on the risks associated with investing in a fund that has exposure to the Bitcoin futures market.