Deadline Set for NCUA Comment Request on Use of Digital Assets by Federally Insured Credit Unions
The National Credit Union Administration ("NCUA") Board set September 27, 2021, as the deadline for comments on the existing and potential impact on federally insured credit unions, related entities and the NCUA resulting from activities connected to digital assets and related technologies. The notice and request for comment was published in the Federal Register.
As previously covered, the NCUA prompted market participants to consider 26 questions concerning:
- digital asset usage in the marketplace,
- operations,
- risk and compliance management,
- supervision, and
- share insurance and resolution.