Federal Regulator Says Credit Unions Can Partner With Crypto Providers

Posted on by American Coins & Gold

Federal Regulator Says Credit Unions Can Partner With Crypto Providers
Federally insured credit unions (FICUs) can partner with third-party digital asset service providers, the National Credit Union Administration (NCUA) said in a statement Thursday.“This includes facilitating member relationships with third parties that allow FICU members to buy, sell, and hold various uninsured digital assets with the third-party provider outside of the FICU,” the statement from the NCUA read. The NCUA is a federal U.S. regulator that oversees credit unions, acting as a counterpart to the Office of the Comptroller of the Currency (OCC), which regulates national banks.The NCUA said it wanted to offer clarity around the existing authority that FICUs…