Take a breather: More time to comment on digital assets
(Oct. 1, 2021) More time – 30 days – is allowed for comments on NCUA’s request for information (RFI) about the impact of activities connected to digital assets and related technologies, according to a notice published this week in the Federal Register.
The original comments-due date was Monday (Sept. 27).
The request for information (RFI), was first issued in July by the NCUA Board. It highlights the agency’s interest in the impact of distributed ledger technology (DLT, such as blockchain) and decentralized finance (DeFi).
The RFI poses more than two dozen questions over five subject areas: the use of DLT and DeFi applications within the credit union system; development of such projects with third-party relationships or credit union service organizations (CUSOs); risk and compliance management; supervision, including whether and how regulation should be revised to address such activities; and share insurance and resolution – including, among other things, how to distinguish between uninsured digital assets and insured shares.
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