Deadline set for NCUA comment request on digital asset usage by federally insured credit unions – technology

United States:

Deadline set for NCUA comment requests on the use of digital assets by federally insured credit unions

August 03, 2021

Cadwalader, Wickersham & Taft LLP

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The Board of Directors of the National Credit Union Administration (“NCUA”) has set September 27, 2021 as the deadline for comments on the existing and potential impact on federally insured credit unions, affiliates and the NCUA arising from activities related to digital assets and related technologies. The notification and the request for comments were published in the Federal Register.

As mentioned earlier, the NCUA asked market participants to consider 26 questions about:

  • Use of digital assets on the marketplace,
  • Operations,
  • Risk and compliance management,
  • Supervision and
  • Stock insurance and dissolution.

The content of this article is intended to provide general guidance on the subject. Expert advice should be sought regarding your specific circumstances.

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