FDIC Solicits Feedback on Banks' Digital Asset Activities

With a request for information posted in the Federal Register on Monday, the FDIC is looking for feedback on insured depository institutions’ current and potential digital asset activities.

According to the agency, there are “novel and unique considerations” related to digital assets—often called digital currency or cryptocurrency—and “given that banks are increasingly exploring the emerging digital asset ecosystem,” information gathered will help inform FDIC’s understanding of industry and consumer interests.

“At the FDIC, we are laying the foundation for the next chapter of banking by ensuring we have a regulatory framework that allows responsible innovation to flourish,” said FDIC Chairman Jelena McWilliams. “Digital assets is one area in which we have seen rapid expansion and innovation in recent years. This RFI gives us an opportunity to gain additional insight into the market, and what role banks might play in the future.” Comments are open 60 days from publication in the Federal Register. Read the RFI. For more information, or to contribute feedback for ABA’s comment letter, contact Matt Daigler.

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