Federal Deposit Insurance Corporation (FDIC) announced that it is gathering information and soliciting comments from parties regarding insured depository institutions’ (IDI) current and potential digital asset activities.
“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. Digital assets is one area in which we have seen rapid expansion and innovation in recent years. This RFI (request for information) gives us an opportunity to gain additional insight into the market and what role banks might play in the future,” FDIC Chairman Jelena McWilliams said.
The FDIC acknowledges there are new and unique considerations related to digital assets in the wake of banks exploring the emerging digital asset ecosystem.
Additionally, the FDIC is issuing the RFI to help inform its understanding of the industry’s and consumers’ interests within the realm.
The FDIC is encouraging comments by July 16, 2021, using the title “Request for Information and Comment on Digital Assets (RIN 3064-ZA25),” identifying the number of the specific question(s) for comment to which they are responding.