A panel of top U.S. financial regulators including Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell urged federal and state officials to monitor risks from digital assets like bitcoin.

The recommendation came in an annual report published Wednesday by the Financial Stability Oversight Council, set up after 2008 to help identify emerging risks that could trigger a new banking crisis. The panel also includes U.S. Securities and Exchange Commission Chair Jay Clayton and Commodity Futures Trading Commission Chair Heath Tarbert.

"The council recommends that federal and state regulators continue to examine risks to the financial system posed by new and emerging uses of digital assets and distributed ledger technologies," the report said.

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